Swiss Life H1 net profit rises on fee business growth; plans 600 job cuts

Swiss Life Holding AG

01/09/2026 06:08

Overview
Switzerland life insurer's H1 net profit rose 8% yr/yr to CHF 649 mln
Profit from operations for H1 increased 8% yr/yr to CHF 967 mln
Company to cut about 600 jobs by end-2028, announces CHF 250 mln share buyback

Outlook
Swiss Life aims for fee result of over CHF 1 bln by 2027
Company targets return on equity of 17–19% under 'Swiss Life 2027' programme
Swiss Life plans cumulative cash remittance of CHF 3.6–3.8 bln for 2025–2027

Result Drivers
FEE BUSINESS GROWTH - Fee result rose 11% in local currency, driven by own and third-party products and services, asset management, and independent financial advisors
NETWORK BUSINESS TRANSFER - Gain from transfer of Swiss Life International network business contributed CHF 29 mln to fee result and profit from operations
HIGHER NET INVESTMENT INCOME - Net investment income grew to CHF 2.40 bln, supported by equities, infrastructure and lower FX hedging costs

Company press release: ID:nEQ2YkFmxa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Net Income
 
CHF 649 mln
 
H1 Profit from Operations
 
CHF 967 mln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 5 "hold" and 5 "sell" or "strong sell"
The average consensus recommendation for the life & health insurance peer group is "buy."
Wall Street's median 12-month price target for Swiss Life Holding AG is CHF870.00, about 5.3% below its August 31 closing price of CHF919.00
The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 17 three months ago

Reuters Recommended Reads
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Aug 31 - Swiss bankers expect SNB to keep rates on hold in 2026 and 2027
Aug 30 - Incoming Swiss bank lobby chief warns against over-regulation, FT says

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)