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Swiss Life Posts CHF172m First Half Profit

An overall improvement in the financial results

The Swiss Life Group, a provider of life insurance and pension solutions in Europe, has posted a profit from continuing operations in the first half year ended June 30, 2009.

The company has posted a profit of CHF172m from continuing operations in the first six months of 2009, an increase of 13%, as compared to CHF152m for the same period the previous year. Its net profit stood at CHF139m. For the half year ended June 30, 2009, the group’s operations results improved by 11%.

Adjusted for extraordinary impacts and currency effects, the company’s premiums rose 7% to CHF10 387m. The net investment were 1.8% more than the previous year. Shareholders’ equity came to CHF6 752m for the first half of the year ended June 30, 2009, when compared to CHF6 609m posted for the same period in 2008.

In group insurance, the company’s premiums for the first half year declined by approximately 2% to CHF4 578m when compared to the same period in 2008. In the Insurance Other segment, the company’s premium income increased by 70% to CHF1 573m in the first half of 2009.