Swiss Life slides on muted mid-term ambitions

Swiss Life Holding AG

03/12/2024 09:15

** Shares in Swiss Life  SLHN.S  fall around 4% after the
insurer's strategy until 2027 disappoints investors, among worst
performers on the pan-European STOXX 600  .STOXX 
    ** Its targets include a fee result of 1 bln Swiss francs
($1.13 bln) by 2027, dividend payout ratio of more than 75% from
2025 and a share buyback programme
    ** Swiss Life's buyback commitment of 750 mln francs is
below its previous target of 1 bln francs, which may disappoint
some investors, J.P.Morgan says
    ** Dividend payout ambition also does not look high, JPM
adds
    ** Given the stock's outperformance leading up to the
company's CMD, and cash flow and fee results targets in line
with JPM's forecasts, the broker doesn't see enough to sustain a
material outperformance in the future
    ** If the losses hold, the shares are on track for their
worst day since August

($1 = 0.8871 Swiss francs)

 (Reporting by Isabel Demetz)
 ((Isabel.demetz@thomsonreuters.com))