Swiss Life's asset management unit boosts fee income in Q1 (updated)
21/05/2026 06:31
Adds analyst estimate, outlook and acquisition in Germany in paragraphs 3-5 May 21 (Reuters) - Insurer Swiss Life's SLHN.S fee income grew in the first quarter, supported by higher contributions from its asset management business and third-party products and services, it said on Thursday. Switzerland's largest life insurance provider and a major owner of real estate in Europe reported quarterly fee income of 686 million Swiss francs ($872 million), up from 659 million francs a year ago. Brokerage Vontobel was expecting lower fee income of 675 million francs. Swiss Life also said it was on track to meet its 2027 targets, while announcing its German division had agreed to buy Telis Group to reinforce its position as a financial advisor in Germany. The parties have agreed not to disclose the purchase price. The transaction is expected to close in the third quarter of this year, Swiss Life said. ($1 = 0.7867 Swiss francs) (Reporting by Paolo Laudani and Tristan Veyet, editing by Milla Nissi-Prussak) ((Paolo.Laudani@thomsonreuters.com;))