Swiss Life made further operational progress in 2016 and once again increased its earnings power. The Group posted adjusted profit from operations of CHF 1402 million (+5%) across all segments. Net profit increased by 5% to CHF 926 million during the reporting period.
Swiss Life reports by country: Switzerland, France and Germany. It also discloses separately the results of its cross-border segments, International and Asset Managers. In the Swiss domestic market, Swiss Life grew its segment result by 7%, to CHF 812 million. France increased its segment result to CHF 244 million (2015: CHF 234 million), while Germany contributed CHF 125 million (2015: CHF 130 million). The International market unit generated a segment result of CHF 45 million (2015: CHF 42 million). Swiss Life Asset Managers made a contribution of CHF 243 million to the Group result (2015: CHF 242 million). Net profit over all segments rose by 5% in the reporting period to CHF 926 million (2015: CHF 878 million).
Swiss Life posted a 9% fall in premiums year-on-year in local currency to CHF 17.4 billion in 2016 (minus 8% in Swiss francs). The decline is due to the consistent focus on profitability and capital efficiency. Fee and commission income was increased Group-wide in local currency by 3% to CHF 1.4 billion (plus 5% in Swiss francs).