Swiss Life says improved real estate values will boost results in 2025
May 20 (Reuters) - Swiss Life (SLHN.S), opens new tab expects real estate fair value changes to boost 2025 results, driven by its Swiss property portfolio, finance chief Marco Gerussi said in a call following the insurer's quarterly trading update.
Switzerland's largest life insurance provider and a major owner of real estate in Europe said that fair value of its real estate assets rose around 0.2% in the first quarter compared to the end of 2024.
The Swiss federal statistics office had reported, opens new tab a 0.7% rise in residential property prices in the same period.
"What we see in terms of an outlook number by the year-end 2025 is in the upper teens of billion overall for the net new assets," Gerussi said.
Swiss Life reported a quarterly fee income of 659 million Swiss francs ($790 million), up 3% from the same period last year in local currency, aided by its asset management business and good performances of its own and third-party products.
Quarterly premiums rose 6% on the same basis to 7.9 billion Swiss francs, led by an 11% rise in France.
The Zurich-based group's main market is Switzerland, which made up more than half of its premiums in the first three months of the year, followed by France which generated around a quarter of them.
"Given that the shares are (one of) the most expensive insurance stocks in Europe ... the company needs to deliver and beat expectations continuously - that's what they did," Vontobel analysts said in a note.
Swiss Life's shares were flat at 1205 GMT after dipping slightly in morning trade.
Its results echoed those from peer Zurich Insurance (ZURN.S), opens new tab which earlier in May reported higher quarterly revenue and gross written premiums in its core property and casualty business.
($1 = 0.8342 Swiss francs)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Auto Express
18 minutes ago
- Auto Express
Car Deal of the Day: Grab a Ford Focus while you can for less than £250 per month
Fun-to-drive family hatchback Four-year lease deal £240 per month with £2,880 initial payment The Ford Focus is not long for this world, as production of the iconic family hatchback will cease in November this year. It's sad to see another staple of British roads leave us, but if you don't want to say goodbye just yet, you can get a four-year lease deal on a Focus for as little as £222 per month through the Auto Express Find A Car service. That price is if you go with ST-Line trim, which is pretty well equipped with a 13.2-inch touchscreen, wireless Apple CarPlay and Android Auto connectivity, LED headlights, keyless entry and go, Ford's Quickclear heated windscreen and front and rear parking sensors. Advertisement - Article continues below However, for a little bit extra per month, you can have an ST-Line X model that offers the same racy look, but adds more kit such as 18-inch alloy wheels, a 12.3-inch digital driver's display, Bang & Olufsen premium sound system, heated steering wheel and heated front seats. TrustFord is currently offering the Focus ST-Line X on a four-year lease for only £240 per month, with an initial payment of £2,880. The standard annual mileage allowance of 5,000 miles per year is included for that price, but if you tend to cover more than that over the course of 12 months, you can increase the limit to 8,000 miles for less than £15 extra a month. Both versions we mentioned are powered by a mild-hybrid 1.0-litre three-cylinder petrol engine which produces a modest 123bhp, and is paired with a six-speed manual gearbox. It's a great combination, and the Focus is also comfortable and pretty efficient, with Ford claiming this engine can average more than 54mpg when you're not hurling it down country roads. The Car Deal of the Day selections we make are taken from our own Auto Express Find A Car deals service, which includes the best current offers from car retailers and leasing companies around the UK. Terms and conditions apply, while prices and offers are subject to change and limited availability. If this deal expires, you can find more top Ford Focus leasing offers from leading providers on our Ford Focus deals hub page… Check out the Ford Focus Deal of the Day or take a look at our previous Car Deal of the Day selection here… Find a car with the experts New Peugeot 208 GTi: electric hot hatch gets stunning looks and plenty of power New Peugeot 208 GTi: electric hot hatch gets stunning looks and plenty of power Hot Peugeot E-208 gets racier styling, 276bhp and does 0-62mph in just 5.7 seconds New BYD Dolphin Surf Comfort review: the best BYD yet New BYD Dolphin Surf Comfort review: the best BYD yet The new BYD Dolphin Surf Comfort is arguably the Chinese brand's most convincing model in its range New entry-level Renault Symbioz is £3k cheaper than a Nissan Qashqai New entry-level Renault Symbioz is £3k cheaper than a Nissan Qashqai The Renault Captur has also been fitted the new full-hybrid powertrain, which gets a bigger battery for more pure-electric driving
Telegraph
24 minutes ago
- Telegraph
Rachel Reeves's tax dilemma is about to get ugly
For close watchers of Britain's economy, last week was dominated by the Government's spending review, stuffed full of numbers of dubious validity, and the political theatre surrounding its delivery in the House of Commons. The event had about it a distinct air of unreality. We all know that the real event will be the budget in Autumn, when the Rachel Reeves will have to confront whatever depressing new economic and financial forecasts are given to her by the Office for Budget Responsibility and to grapple with the horrible reality of surging public debt. Of course, she could react by redefining her fiscal rules to allow more borrowing. After all, this is a well-trodden path. But if she wishes to maintain a shred of fiscal credibility, she will be forced to announce spending cuts or tax increases – or both. Bearing in mind the politics within the Labour Party and public opinion in the country, we are expecting higher taxes. And it is going to be ugly. At least last week the Chancellor could take comfort from the fact that the financial markets were, as expected, unfazed by the spending review. This does not imply that they are unworried by the huge amount of public debt. Quite the opposite. It is simply that there was nothing in the review that was surprising. They know that the big questions about the economy and fiscal policy remain exactly the same as they were beforehand.
BBC News
28 minutes ago
- BBC News
Stoke-on-Trent couple 'tried to cut business costs where we can'
A couple whose company sells car cleaning products around the world say the last 18 months have been the hardest of their 20 years in Direct, based at Festival Park in Hanley, Stoke-on-Trent, was set up by husband and wife Mark and Jill Moss in their garage in experiencing huge growth from humble beginnings, the increased cost of living has forced them to adapt."We've moved into manufacturing now, we've tried to cut costs where we can. We'll be alright, but it's not nice," Mrs Moss said. "We're lucky we've got a brand that's been established for 20 years," she they set up the firm, Mark had been cleaning lorries for a living, but needed to take on something less strenuous after injuring his back."Me and Mark are just dead normal people," Mrs Moss said. "We go in the warehouse, we pack orders, we fill bottles."Despite that, they were "very proud" of what they had built together, she added that they were also heavily involved in the firm's social media marketing, which has meant people got to know them as well as their Moss said: "We are the business. We deal with a lot of the local community, we get to speak to a lot of people." Follow BBC Stoke & Staffordshire on BBC Sounds, Facebook, X and Instagram.
