Pages last visited
DE R J (1)
« Business Review »


Swiss Life Germany is a leading provider of insurance and pension solutions in the sectors of life insurance, occupational pension provision and employee insurance. Swiss Life Germany offers allround financial and pensions advice, independent of product provider, under the Swiss Life Select, Tecis, Horbach, Proventus and Swiss Compare brands. The segment reporting comprises local insurance activities and the financial consultancies operating in Germany.

During the reporting year, in a still challenging market environment characterised by continuing low interest rates, Swiss Life Germany achieved a segment result of CHF 186 million (previous year: CHF 143 million). The rise reflects a higher fee result and an exceptionally high savings result. Slightly improved risk and cost results supported this positive development.

Fee income increased in 2019 to CHF 498 million, equivalent to an increase of 14% in local currency. The main driver was the strong growth of the distribution base in the owned IFAs as well as the brokered new business across all product areas. At the end of 2019 the proprietary financial advisory companies in Germany had 4173 trained and registered financial advisors under contract (+10% over the previous year).

Swiss Life Germany posted premiums of CHF 1.4 billion in 2019. This corresponds to an increase of 2% in local currency compared to the previous year. The core product areas of Swiss Life Germany are employee insurance, occupational pensions, long-term care insurance and modern guarantee concepts.

Operating costs increased 6% due to investments under the new Group-wide programme “Swiss Life 2021.”

In the coming three years, Swiss Life Germany will focus on the three strategic thrusts: expansion of position as biometry and occupational pensions specialist, positioning as leading advisor to German Mittelschicht companies and increase of efficiency and service quality. The focus on insurance is on biometric, sector-specific and occupational pensions solutions. Swiss Life Germany wants to leverage its competency in biometry to set insurance market standards in service as well as in the scalable application process. In financial consulting Swiss Life Germany has set its sights on becoming the “financial home” of the German Mittelschicht companies and further increasing its own distribution strength – for example through a scalable distribution platform. In order to achieve this goal, connectivity is being improved and the administration processes are being automated, in step with the systematic advance of digitalisation.

Key figures for Germany

Amounts in CHF million20192018+/-
Net earned premiums1 0921 156–6%
Fee and commission income4984569%
Financial result93377221%
Other income23–17%
TOTAL INCOME2 5262 3866%
Net insurance benefits and claims–1 199–1 263–5%
Policyholder participation–390–29233%
Interest expense–37–13n/a
Operating expense–715–67416%
TOTAL EXPENSE–2 340–2 24314%
Assets under control23 54921 9417%
Insurance reserves20 44319 6704%
Number of employees (full-time equivalents)1 6081 4829%

1 adjusted

My Report

Your page has been added successfully.