Swiss Life Expands Fee Income; Attracts New Money: Swiss Life increased fee income and boosted premiums during the first three quarters of the year. Its asset management unit attracted net new money. SwissLife 3Q22 assetmanagement
Building on positive developments over the first half of the year, momentum continues for Swiss Life in the third quarter, helping it achieve a 13 percent increase in fee income over the first nine months of 2022 to 1.745 billion Swiss francs, according to a statement Wednesday from the insurer.
Gross written premiums were 15 billion francs during the period, registering a 2 percent increase in local currency terms, according to the report.quarter,» says Group CEO Patrick Frost.Swiss Life Asset Managers booked 6 billion francs in net new assets during the first three quarters. Assets under management dipped to 100 billion at the end of September, down from 102.8 billion at the end of December, according to the report.
«We are continuing to develop Swiss Life successfully also in times of higher interest and inflation rates. We could, for example, reduce vacancies from 4.5% to 4.2% in our real estate portfolio where we also recorded higher valuations,» Frost added.
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