Swiss Life down after 'disappointing' 9-month results

Swiss Life Holding AG

14/11/2024 08:30

** Shares in Swiss Life  SLHN.S  fall more than 2% after
Switzerland's biggest life insurer released its nine-month
results below expectations
    ** "We think this is a slightly disappointing trading update
from Swiss Life, with lighter numbers in the asset management
business than we were expecting," says J.P.Morgan
    ** JPM adds that Swiss Life's fee income was slightly weaker
than the broker had expected, driven by asset management
    ** The company's net new assets in its third-party asset
management business decreased by 60% to 3.4 billion francs in
the first nine months of 2024
    ** Shares were down 2.1% at 0830 GMT, at the bottom of the
Swiss blue-chip index  .SSMI  

 (Reporting by Chiara Holzhaeuser)
 ((Chiara.Holzhaeuser@thomsonreuters.com))