j
Pages last visited
DE R J (0)
« Business Review »

International

The International segment comprises cross-border business for high net worth international individuals (Global Private Wealth Solutions) and multinational companies (Global Employee Benefits Solutions), under the brand “Swiss Life Global Solutions”, as well as the financial services providers Chase de Vere in the United Kingdom, Fincentrum in the Czech Republic and Slovakia, and Swiss Life Select in Austria and the Czech Republic.

In the year under review, the International segment achieved a result of CHF 67 million, a growth rate of 32% over the previous year (2017: CHF 51 million). This improvement stems predominantly from higher fee income of CHF 260 million (previous year: CHF 225 million).

The Global Private Wealth Solutions business area, with carriers based in Luxembourg, Liechtenstein and Singapore, specialises in life insurance solutions for high net worth individuals. With CHF 19.6 billion assets under control and thanks to a comprehensive international product range, fee income increased.

The Global Employee Benefits Solutions business area concentrates on global provisions solutions for multinational companies. Good risk development and higher reserves enabled the consolidation of profitability on its own balance sheet in Luxembourg. Swiss Life Network, a leading independent provider of global employee benefits solutions, made a strong contribution to the result due to its fee optimisation and thus reconfirmed its good market position.

Fee income from the financial advisory companies rose by CHF 30 million to CHF 159 million, due mainly to improved revenues achieved by Chase de Vere and the first-time consolidation of Fincentrum in the fourth quarter.

In 2019, Swiss Life International aims to pursue new insurance business development by expanding innovative solutions and digital channels. In financial consulting the company anticipates an increase in the number of advisors and an increase in revenue per advisor. Swiss Life International aims to ensure that people can be offered suitable and high-quality financial services and advice going forward through digitalisation initiatives. Swiss Life International is also targeting an increase in fee and risk business.

Key figures for International

Amounts in CHF million20182017+/-
GROSS WRITTEN PREMIUMS, POLICY FEES AND DEPOSITS RECEIVED2 4592 674–8%
Net earned premiums3839–2%
Fee and commission income26022516%
Financial result372363%
Other income–414n/a
TOTAL INCOME33130110%
Net insurance benefits and claims–12–121%
Policyholder participation–14–20–30%
Interest expense–15–150%
Operating expense–222–2039%
TOTAL EXPENSE–263–2505%
SEGMENT RESULT675132%
Assets under control21 48422 376–4%
Insurance reserves21 11621 949–4%
Number of employees (full-time equivalents)96578922%