Swiss Life Review 2022 – That will be the topic of today’s article.
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Table of Contents
Introduction
Swiss Life Group is a leading provider of living, retirement and financial solutions in Europe. For over 160 years, we have been helping private and corporate clients prepare their financial future. This is our mandate at Swiss Life: we empower people to lead independent lives.
Swiss Life Group is one of the largest life insurance companies in Switzerland and the one of Europe’s leading life insurance, pension and financial services providers with assets under management of approximately CHF 269.7 billion.
Founded in 1867 in Zurich as the cooperative Schweizerische Lebensversicherungs und Rentenanstalt, the company entered the Swiss stock market in 1997 and adopted its current name in 2002. to the previous year. Net profit decreased by 13% to 1.05 billion Swiss francs. Swiss Life is one of twenty companies listed in the Swiss Market Index (SLHN).
Conrad Widmer founded the Schweizerische Rentenanstalt (“Swiss Annuity Institution”) in 1857 as the first life insurance company in Switzerland backed by guarantees from the Schweizerische Kreditanstalt. The prominent Zurich politician Alfred Escher was directly involved in the development of the cooperative, the purpose of which was to provide Swiss families with insurance against the uncertainties of life: the company’s board included representatives of most of the Swiss cantons.
In 1866 Widmer obtained a license in Prussia and a year later the Rentenanstalt had business operations in Hamburg and Bremen. Between 1866 and 1987, the Rentenanstalt expanded to Germany, France, the Netherlands, Belgium, Great Britain, Spain, Luxembourg and Italy. In 1988, she acquired the insurance company La Suisse in Lausanne.
The first registered office of the Rentenanstalt was in the Tiefenhoefe buildings on the Paradeplatz in Zurich. Rapid expansion saw the offices quickly move from Gruene Schloss on Zwingliplatz to Chamhaus on Untere Zäune and finally to Alpenquai where a new head office was opened in 1898.
Although this building was spacious for its time, further expansion during the interwar period required another move. In 1937–1939, a modern building designed by the architectural firm Pfister was built next to the old head office. It is in this building, expanded in 1961–1963 and later, that the company’s current head office in Zurich is located.
In 1997, under the leadership of Manfred Zobl, Rentenanstalt changed from a mutual company to a publicly traded proprietary company, and Rentenstalt/Swiss Life shares debuted in the Swiss market index in 1998.
Swiss Life then embarked on an expansion strategy, acquiring Livit, Banca del Gottardo, Lloyd Continental and UTO Albis in 1999 and Schweizerische Treuhandgesellschaft in 2000, and in 2001 acquired properties from Oscar Weber Holding AG. In 2002, the quick acquisitions ended as the company sought to restructure and return to its core business.
In 2002, the company changed its name to Swiss Life for all of its operations except in the Netherlands, where it remained under the old name Zwitser Leven (Dutch for “Swiss Life”); the Dutch company was sold in 2007 to SNS Real along with the Belgian business.
In 2004 he sold his UK operations to Resolution Life Group. In November 2007, Swiss Life sold Banca del Gottardo for CHF 1.775 billion. On December 3, 2007, Swiss Life announced that it had filed a takeover bid for AWD Holding; On March 13, 2008, it succeeded in acquiring a total of 86.2% of AWD, which became Swiss Life Select in 2013.
In the summer of 2014, the acquisition of Corpus Sireo, a German real estate asset management provider, was completed and Mayfair Capital, a UK-based real estate investment management firm, in 2016.
As Swiss Life Group we operate in Switzerland, Germany and France and we have competence centers in Luxembourg, Liechtenstein and Singapore. Swiss Life Select, Tecis, Horbach, Proventus, Fincentrum and Chase de Vere consultants select the right products or services for clients in the market according to the Best Select approach. Swiss Life Asset Managers suggests institutional and private investors an access to investment and asset management solutions.
In addition, Swiss Life provides multinational corporations with employee benefit solutions and high net worth individuals with structured living and retirement products. Swiss Life Group also includes various subsidiaries. The Group has about 10,000 employees and a distribution network of about 17,000 consultants.
Swiss Life Strategy
With its products and services, Swiss Life satisfies a basic human need: to lead an independent life with confidence. Through the consistent and successful implementation of its multi-year strategic programs, Swiss Life ensures that the long-term value propositions made to its customers are guaranteed and that it creates sustainable value for its shareholders and stakeholder groups.
Swiss Life Group is one of Europe’s leading providers of end-to-end solutions for life, pensions and financial services. The success of Swiss Life is driven by a clear strategy, disciplined execution of company-wide programs, a sound purpose and a charismatic brand.
Swiss Life meets a fundamental need
Swiss Life allows people to lead independent lives. In doing so, the company responds to a fundamental need: representative surveys conducted by Swiss Life in its main markets show that more than 80% of people consider self-determination and independence to be a fundamental need in their lives. Shaping your own life and being able to make decisions freely also leads to greater satisfaction and financial security. The Covid-19 pandemic has made self-determination even more important for nearly half of the people in Swiss Life’s core markets.
The results of a market research conducted by Swiss Life show that pensions are stressful for people. Most recognize that they are primarily responsible for their own financial security, and the experience of the pandemic means that many people are no longer unconditionally optimistic about the future.
Demographics Make Pensions a Growing Market
Retirement and insurance gaps are widening around the world. The impact of rapidly aging populations and highly indebted pension systems in many countries is generally underestimated. As a result, people need to take more responsibility for their own pensions, all the more so in combination with the upcoming demographic trend of increasing life expectancy.
Therefore, pension solutions and advice are a growing market. After all, people depend on support and advice to deal with pension gaps and risks on their own. Under these circumstances, the value of Swiss Life’s work, advice and products will continue to grow and Swiss Life sees growth opportunities and potential for differentiation in the pension solutions and advisory market.
Unique market position
The basis for this is its unique positioning: Swiss Life has a strong position in attractive European markets, and the experience of its more than 17,000 consultants sets the company apart from the competition. In recent years, Swiss Life has convincingly demonstrated that it has been able to achieve consistent profits and growing results despite low interest rates.
At the same time, Swiss Life is constantly adapting its product portfolio to the conditions of low interest rates. In addition, Swiss Life has a thriving asset management business with Swiss Life Asset Managers, with particular real asset benefits resulting in a business model with multiple revenue streams.
Swiss life 2024
In November 2021, Swiss Life introduced its new group-wide program “Swiss Life 2024”. With its new strategy, Swiss Life systematically continues its successful path of recent years, focusing on deepening customer relationships, expanding its consulting organizations, operational scalability and implementing a sustainable development strategy.
As part of Swiss Life 2024, the company aims to expand its offering of products and services in the areas of savings, pensions, risk coverage, and investment solutions and product and service offerings. Excellent advisory remains a key success factor: accordingly, the Group intends to continue to invest in strengthening its advisory organizations and improving operational efficiency in all areas, including through investments in technology and digitalization, especially in the use and continuous development of clients, consultants and feedback. – office sites.
All divisions are looking to improve their operational efficiency and, in particular, leverage operational scalability across their commission divisions. Swiss Life is also setting additional sustainability targets for 2024. Priority is given to areas where the company can have a direct impact.
Swiss Life Divisions
With its core markets in Switzerland, France and Germany, as well as its cross-border international segment and Swiss Life Asset Managers asset management business, Swiss Life enjoys a very strong market position.
Swiss Life Switzerland
Swiss Life is Switzerland’s largest provider of integrated life, retirement and financial solutions. 1.4 million private clients and over 40,000 companies with more than 600,000 employees trust them with their services, experience gained over more than 160 years.
Every day more than 2,500 employees throughout Switzerland, of which more than 1,300 are in sales, work on behalf of their customers.
Through their individual insurance and financial advice, they help people in all life situations prepare their financial future and enable them to lead an independent life.
Individual solutions for private clients
The three pillars of the Swiss pension system help you accumulate personal reserves for years and decades – in case of old age, disability or death. Swiss Life has many years of experience in the private sector. They find the right solution for the clients depending on their life stage so that they are financially secure and can enjoy life when they are older or fulfill their dream.
Freedom of choice for companies
As a full service provider, Swiss Life continues to allow its clients to decide which solution suits their professional needs, ranging from full insurance with 100% interest rate and capital guarantee to a semi-autonomous solution with attractive return potential. At Swiss Life, the clients have a strong and experienced professional support partner.
Best Select Approach by Swiss Life Select
Swiss Life Select has around 700 financial advisors with a wide range of products from 60 financial partners from which to choose the right solution for your clients. All this is based on comprehensive financial planning – from birth to retirement.
Swiss Life France
Swiss Life France, a leading provider of insurance and asset management services, has a strong position as a private insurer.
Swiss Life France, a leading provider of insurance and asset management services, has a strong position as a private insurer. This one-of-a-kind model is designed to support premium clients, both private and corporate, throughout their lives, both personally and professionally. It depends on reliable multi-channel distribution combined with qualified consulting and quality services.
Swiss Life France offers its clients comprehensive solutions in the fields of life insurance, private banking and financial engineering, as well as health, death and disability insurance, as well as property and casualty insurance. Swiss Life France listens to the personal choice of its customers and adapts its solutions to their needs as they develop and life expectancy increases.
Swiss Life Germany
Swiss Life in Germany is a leading financial advisory and insurance company. Thanks to numerous award-winning products and qualified consultants, Swiss Life is a premium supplier on the German market.
No one knows what the future holds for them, they all know that they want to lead independent lives into old age. This is where Swiss Life Germany helps its clients with innovative pension solutions and high quality consulting. If you want to be financially secure in the fall of your days and thus remain financially independent, you must start planning today. And you will need a reliable partner at your side. This is exactly what Swiss Life in Germany has been for over 150 years and is therefore regarded as one of the most experienced providers of pension solutions on the German market.
The company’s clients enjoy double security. As part of the Swiss Group, Swiss Life Germany is subject to dual government supervision: in Germany through the Federal Financial Supervisory Authority (BaFin), and in Switzerland, where it is overseen by the Swiss Financial Market Supervisory Authority FINMA. Their guarantees will remain strong in the future, as they are long-term: they can meet the obligations even if interest rates remain low.
Innovative pension solutions for private and corporate clients
Under the Swiss Life brand, the company offers flexible insurance products and services in the field of pension savings and financial security to private and corporate clients. Its core competencies in this area are personnel insurance, including long-term care needs, as well as private and professional pensions with modern guarantee concepts.
Swiss Life Germany’s sales as a leading insurance broker depend on close cooperation with independent intermediaries – brokers, numerous agents, financial service providers and banks. They serve the business partners locally with a service network spanning the entire country. The German branch of Swiss Life, founded in 1866, has its head office in Garching bei München and employs about 800 employees, including subsidiaries.
Financial consulting throughout life in accordance with the Best Select approach
The brands Swiss Life Select, tecis, HORBACH and Proventus provide comprehensive and personal financial advice throughout the life of the clients. With Best Select’s consultative approach, their clients can make an informed choice from a range of suitable solutions from selected product partners in the areas of retirement, personal insurance, asset planning and financing.
More than 3,800 licensed consultants throughout Germany work hard to ensure the safety and financial independence of their clients. With the Swiss Compare sales service platform, Swiss Life Germany relieves the burden on small and medium-sized financial sales companies, helping them to consolidate sustainably under their existing brand and focus on advisory services for clients. The financial consulting company is headquartered in Hannover and employs about 700 people.
Swiss Life International
Swiss Life International offers high net worth individuals and multinational corporations a wide range of insurance solutions, as well as individual advice on future reserves, risks and investment planning for retail and high net worth clients.
Swiss Life International has offices in Liechtenstein, Luxembourg, the UK, Austria, the Czech Republic and Singapore and has 750 employees and about 1,500 financial advisors.
Global insurance business
Swiss Life Global Solutions offers a wide range of specialized cross-border insurance solutions for high net worth individuals to get the right comprehensive wealth planning, as well as for international companies to meet the needs of their local and mobile employees for employee benefits.
Global Private Wealth: From its offices in Liechtenstein, Luxembourg and Singapore, Swiss Life Global Solutions offers sophisticated living and retirement solutions for the wealthy around the world. These products combine an investment portfolio with structured life insurance for asset protection, estate and inheritance planning, and tax planning for various European and Asian markets.
Global Employee Benefits: Multinational corporations receive insurance solutions for local staff and employees working abroad through an insurance company in Luxembourg and Swiss Life Network, a global association that has been in existence since 1962 and includes more than 65 independent local insurance companies.
Independent Financial Advisor
Financial advisors Chase de Vere in the UK, Fincentrum in the Czech Republic and Slovakia, and Swiss Life Select in Austria and the Czech Republic work under the auspices of Swiss Life International. With a comprehensive advisory philosophy based on the Best Select approach, advisors offer individual advice on investment, retirement, insurance and finance to retail and high net worth clients.
Swiss Life Asset Managers
Swiss Life Asset Managers is an ambitious and reliable European asset management company and a leading property management company with offices in Switzerland, France, Germany, Luxembourg, UK and Norway.
For more than 165 years, we have proven our experience in this field as an asset manager for the Swiss Life insurance business, as well as for retail and institutional clients.
Risk management as the basis of our investment philosophy
This insurance experience has been a key influence on the investment philosophy of Swiss Life Asset Managers. The goal is long-term and stable investment income. This gives our clients the basis for reliable, long-term planning, self-confidence and self-determination.
More than 2500 employees work for Swiss Life Asset Managers in Europe. They provide services and develop customized investment strategies for our own insurance companies and for third parties such as pension funds, investment funds, asset managers and private clients served through the Swiss Life network.
The core competencies include providing and actively managing a wide range of solutions in the areas of bonds, real estate, equities, infrastructure and investments in various assets.
As at 31 December 2021, Swiss Life Asset Managers managed Swiss Life Group’s total assets of CHF 276.3 billion, including more than CHF 102.8 billion for third party asset management.
Leading real estate manager in Europe
Swiss Life Asset Managers is one of Europe’s leading property management companies with CHF 87.2 billion of total assets under management invested in real estate. In addition, Swiss Life Asset Managers manages CHF 28.8 billion of real estate through its subsidiary Livit in Switzerland. Thus, the total value of real estate under management as of December 31, 2021 was more than 116.0 billion Swiss francs.
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