the drivers of the business with corporate clients, Swiss Life announced on Thursday in a Communiqué. In the business of Occupational Pension provision (BVG) has benefited the group by the exit of a competitor to Axa from the full-insurance model.
in business, parts will be charged, in which the customer fees (Fee income), was able to extend the largest Swiss life insurer, the volume significantly. The fees income increased by 9 percent to 429 million Swiss francs. In local currencies, they would have grown by as much as 11 percent.
The business with Investment advice, Fund-linked pension products or real estate is pushing the Swiss Life for several years, because it is less strongly influenced by the development of interest rates and therefore with less capital.
top management satisfied
the fee-based business was Driven by the success of the Swiss Life Asset Managers. Since it succeeded, in the case of third-party customers and attract net new money of CHF 4.6 billion. In the same quarter of the previous year, there were only 2.4 billion Swiss francs. The assets under management from external customers increased since the beginning of the year by 9 percent to 77.2 billion francs.
“is started, The Swiss Life well in the financial year 2019,” said group chief Executive Patrick Frost in the Communiqué. “The growth in the Fee business, the independent Advisor channels have contributed in Germany significantly. In addition, we benefited from the acquisitions, which we had expanded our Fee-business in the previous year, in a targeted manner.”