Swiss Life Holding Ag · SIX:SLHN
Swiss Life — FY2022 Earnings Presentation
78 slides from Swiss Life's earnings presentation, Mar 1, 2023
Slide 1: Full-year results 2022 Investor presentation
Full-year results 2022 Investor presentation 01 March 2023
Slide 2: Agenda
Agenda Overview Patrick Frost, Group CEO Financial results and strategy update Matthias Aellig, Group CFO 2 | Investor presentation | Full-year results 2022
Slide 3: Swiss Life 2024 very well on track
Swiss Life 2024 very well on track Net profit, RoE1) Fee result CHF m, % CHF m Net profit +16% RoE +13% 850-900 1 455 756 1 257 668 10-12% 11.0% 12.8% FY 2021 FY 2022 Target 2022-2024 FY 20212) FY 20222) Target 2024 Cash to Holding Payout ratio, DPS CHF m 2.8-3.0 bn 61% 61% > 60% +21% CHF 30.00 1 00
Slide 4: Agenda
Agenda Overview Patrick Frost, Group CEO Financial results and strategy update Matthias Aellig, Group CFO 4 | Investor presentation | Full-year results 2022
Slide 5: Key figures FY 2022 results
Key figures FY 2022 results Net profit increased by 16% to CHF 1 455 m Adjusted profit from operations up by 17% to CHF 2 058 m Fee and commission income grew by 9% in local currency to CHF 2 370 m Fee result increased by 13% to CHF 756 m Premiums up by 1% in local currency to CHF 19.6 bn Direct inv
Slide 6: Selected P&L figures
Selected P&L figures CHF million (IFRS basis) FY 2021 FY 2022 Gross written premiums, fees and deposits received 20 188 19 604 Fee and commission income 2 296 2 370 Net investment result insurance portfolio for own risk 4 881 4 321 Net insurance benefits and claims -14 343 -13 294 Policyholder parti
Slide 7: Adjusted profit from operations
Adjusted profit from operations CHF million (IFRS basis, adjusted) +17% 2 054 +38 2 058 1 783 +28 1 811 1 755 -34 -56 Profit from Finance Adjusted FX Adjusted Profit from Finance Net gain Adjusted operations trans- profit from translation profit from operations trans- on sale of profit from formatio
Slide 8: Business review Switzerland
Business review Switzerland CHF million (IFRS basis, VNB) FY 2021 FY 2022 Change GWP incl. PHD 9 880 9 918 0% • GL: +1% (market -1%), driven by single premiums; AuM in semi-autonomous business increased to CHF 6.2 bn (FY 21: CHF 5.6 bn) • IL: -4% (market +2%), higher periodic premiums from UL produc
Slide 9: Business review France
Business review France EUR million (IFRS basis, VNB) FY 2021 FY 2022 Change GWP incl. PHD 7 108 6 915 -3% • Life: -5% (market -3%); UL share of 63% (market 40%) • Health & protection: +5% (market +6%) • P&C: -4% Fee and commission 383 422 +10% • Higher UL fee income due to higher average UL reserves
Slide 10: Business review Germany
Business review Germany EUR million (IFRS basis, VNB) FY 2021 FY 2022 Change GWP incl. PHD 1 347 1 412 +5% • Higher premiums with modern, modern-traditional and disability products Fee and commission 645 668 +3% • Driven by owned IFAs based on higher number of income1) financial advisors (+7%); stro
Slide 11: Business review International
Business review International EUR million (IFRS basis, VNB) FY 2021 FY 2022 Change GWP incl. PHD 1 107 1 343 +21% • Higher premiums with private and corporate clients Fee and commission 312 373 +19% • Increase due to acquisition of elipsLife and organic income1) revenue growth from corporate and pri
Slide 12: Business review Asset Managers (1/2)
Business review Asset Managers (1/2) CHF million (IFRS basis) FY 2021 FY 2022 Change Commission and 1 023 1 145 +12% • PAM: Lower income driven by substantially lower AuM other net income1) partly offset by net gain on sale of subsidiary PAM 392 380 -3% • TPAM: Strong growth of recurring income (inc
Slide 13: Business review Asset Managers (2/2)
Business review Asset Managers (2/2) TPAM net new assets, NNA PAM and TPAM assets under management, AuM (CHF billion, fair value basis) (CHF billion, fair value basis) 9.8 269.7 276.3 9.4 250.1 2.3 91.6 102.8 5.1 105.4 TPAM 2.7 Real estate 0.6 Infrastructure 1.5 Balanced mandates 2.0 178.1 173.5 Equ
Slide 14: Expense development
Expense development CHF million (IFRS basis) FY 2021 FY 2022 Change Total operating expense 3 820 3 835 0% Commissions and DAC amortisation -1 899 -1 834 Operating expense (before FX) 1 921 2 000 +4% Restructuring costs and one-offs -42 -12 Finance transformation -33 -46 Scope changes -68 -130 FX tr
Slide 15: Investment result
Investment result CHF million (IFRS basis), insurance portfolio for own risk FY 2021 FY 2022 Direct investment income 4 020 3 929 Direct investment income in % 2.3% 2.5% Expense -452 -437 Net capital gains/losses on investments and impairments1) 1 313 830 Net investment result 4 881 4 321 Net invest
Slide 16: Investment portfolio
Investment portfolio CHF million (fair value basis), insurance portfolio for own risk1) 175 459 147 233 Equities & equity funds 8.7% 8.2% Alternative investments 1.6% 2.7% Real estate 23.6% 28.2% Mortgages 6.6% Loans 3.8% 6.9% 2.9% Government & supranational bonds 29.8% 23.3% 53.7% 48.6% Corporate b
Slide 17: Insurance reserves excluding policyholder participation liabilities
Insurance reserves excluding policyholder participation liabilities CHF billion (IFRS basis) -1% +17.6 175.1 171.7 +1.9 169.4 -3.4 -17.4 -4.4 31.12.2021 FX translation 31.12.2021 Premiums/ Withdrawals/ Interest Market 31.12.2022 effect excl. FX deposits benefits accrued movements received incurred a
Slide 18: Shareholders’ equity
Shareholders’ equity CHF million (IFRS basis) 15 727 -40% +1 449 9 489 -5 972 -228 -764 -701 -22 31.12.2021 Change in Change in Dividend Share Interest on Profit 31.12.2022 unrealised foreign buyback hybrid equity attributable gains/losses currency and other to share- net translation holders 18 | In
Slide 19: Capital structure
Capital structure Capital structure1) (IFRS basis) 5 083 Senior & 14% Carrying value (CHF m) 25-35% hybrid 17% 2 320 Senior Shareholders’ 65-75% 69% equity2) 2 764 Hybrid Reference level FY 2022 FY 2022 Maturities (senior) and next optional call dates (hybrid); nominal value, CHF million 150 CHF Hyb
Slide 20: Swiss Life 2024 financial targets
Swiss Life 2024 financial targets Swiss Life 2024 financial ambitions and targets • Fee result CHF 850-900 m FY 2024 Quality of earnings and earnings growth • RoE1) 2) 10-12% 2022-2024 • Cash to Holding CHF 2.8-3.0 bn Cumulative 2022-2024 Capital, cash • Dividend payout ratio2) > 60% and payout 2022
Slide 21: Savings and fee results significantly increased
Quality of earnings Savings and fee results significantly and earnings growth increased CHF million (IFRS basis) FY 2021 FY 2022 adjusted1) adjusted1) Savings result 880 48% 1 141 53% Risk result 409 22% 377 18% Fee result 668 36% 756 35% Cost result -105 -6% -88 -4% - Thereof admin cost result gros
Slide 22: Growing fee and commission income
Quality of earnings Growing fee and commission income and earnings growth Fee and commission income1), CHF million (IFRS basis) +3% +9% LC Local 2 296 2 370 currency Swiss Life Asset 944 984 +4% +7% • Higher recurring TPAM income Managers 1 170 1 116 -5% +1% Owned IFA channels • Small positive contr
Slide 23: Yield development
Quality of earnings Yield development and earnings growth Direct and net investment yield (IFRS basis, in %) 5.0 4.1% 4.8% 3.8% 3.9% 4.0 3.8% 3.7% 3.3% 3.8% 3.7% 2.9% 3.5% 3.0% 2.9% 3.0 3.4% 3.3% 2.8% 2.7% 3.0% 3.0% 2.9% 2.4% 2.8% 2.0 2.5% 2.2% 2.3% 2.5% 1.0 0.0 -1.0 31.12.10 31.12.11 31.12.12 31.12
Slide 24: Declining average technical interest rate
Quality of earnings Declining average technical interest rate and earnings growth Statutory basis 01.01.2010 – 01.01.2023: • FX translation effect -5 bps • Reserve strengthening -74 bps 01.01.2022 – 01.01.2023: • Mandatory GL CH -15 bps • FX translation effect -1 bps • Non-mandatory GL CH -19 bps •
Slide 25: Disciplined ALM has safeguarded the interest rate margin
Quality of earnings Disciplined ALM has safeguarded the and earnings growth interest rate margin Aggregated view, IFRS basis, in % technical reserves 4.0 Net investment Interest rate margin resilient as a yield result of disciplined ALM excl. net gains/ 3.0 losses, after • Long asset duration suppor
Slide 26: Improved value of new business
Quality of earnings Improved value of new business and earnings growth Value of new business (VNB), CHF million +21 Economic variances & FX 497 • Development of interest rates overall positive; negative -3 impact from FX -3 482 Volume, business mix and pricing variances Continued focus on margin man
Slide 27: Group SST ratio as of 1 January 2023 estimated to be around 215%
Capital, cash Group SST ratio as of 1 January 2023 and payout estimated to be around 215% Swiss Life Group Swiss Life Group SST sensitivities SST standard model (as of 01.01.2023) 223% as of 01.01.2022 Real estate -10% -23 ppts ~215% as of 01.01.2023 Capital management actions 190% Credit spreads1)
Slide 28: Increased cash remittance to Holding; share buyback on track
Capital, cash Increased cash remittance to Holding; and payout share buyback on track Cash remittance to Holding Share buyback programme (CHF million) (additional details) +21% • CHF 1 bn Amount (Dec 2021 – May 2023) 1 009 834 Current • Shares repurchased in the amount of 58% Life status CHF 819 m u
Slide 29: Proposed increase of dividend to shareholders by CHF 5.00 per share
Capital, cash Proposed increase of dividend to and payout shareholders by CHF 5.00 per share Dividend and share buybacks Dividend payment details (CHF, per share) Share buybacks1) 2.6 27.9 0.9 12.9 22.7 per share AGM • 28 April 2023 +5.00 30.00 Ex date • 3 May 2023 25.00 20.00 21.00 16.50 • 5 May 20
Slide 30: Swiss Life 2024 very well on track
Swiss Life 2024 very well on track Swiss Life 2024 financial ambitions and targets Current assessment • Fee result CHF 850-900 m On track FY 2024 Quality of earnings and earnings growth • RoE1) 2) 10-12% Ahead 2022-2024 • Cash to Holding CHF 2.8-3.0 bn Ahead Cumulative 2022-2024 Capital, cash • Divi
Slide 31: Supplementary information
Full-year results 2022 Investor presentation Supplementary information
Slide 32: Supplementary information
Supplementary information Profit and loss Balance sheet Investments Value of new business Sustainability Abbreviations and disclaimer Contact details and financial calendar 32 | Investor presentation | Full-year results 2022
Slide 33: Adjusted net profit
Adjusted net profit CHF million (IFRS basis, adjusted) +17% 1 455 +30 1 451 1 257 +21 1 277 1 240 -34 -37 Net profit Finance Adjusted FX Adjusted Net profit Finance Net gain Adjusted trans- net profit translation net profit trans- on sale of net profit formation effect comparable formation subsidiar
Slide 34: Premium development
Premium development CHF million (IFRS basis); GWP, fees and deposits Local currency 9 918 Switzerland 0% 0% 9 880 6 956 France -10% -3% 7 687 1 421 Germany -3% +5% 1 457 1 352 International +13% +19% 1 198 19 604 Total1) -3% +1% 20 188 FY 2022 FY 2021 1) Total includes intersegment eliminations of C
Slide 35: Fee and commission income development
Fee and commission income development CHF million (IFRS basis) Local currency 322 Switzerland -2% -2% 330 425 France +3% +10% 414 672 Germany -4% +3% 698 375 International +11% +17% 338 Asset 984 Managers +4% +7% 944 2 370 Total1) +3% +9% 2 296 FY 2022 FY 2021 1) Total includes Other and intersegmen
Slide 36: Switzerland: Premium development
Switzerland: Premium development CHF million (IFRS basis) FY 2021 FY 2022 Change Total life GWP incl. PHD 9 880 9 918 0% Single premiums 4 756 4 759 0% Periodic premiums 5 124 5 159 +1% Group life 8 305 8 413 +1% Single premiums 4 297 4 386 +2% Periodic premiums 4 008 4 027 0% Individual life 1 575
Slide 37: Switzerland: Statutory group business (BVG)
Switzerland: Statutory group business (BVG) CHF million (statutory basis) FY 2019 FY 2020 FY 2021 FY 2022 Gross revenue 2 303 100% 1 933 100% 2 137 100% 2 496 100% Total insurance benefits 2 183 94.8% 1 840 95.2% 2 030 95.0% 2 371 95.0% paid (incl. bonuses) Operating income 120 93 107 125 group busi
Slide 38: Details of net investment result
Details of net investment result CHF million (IFRS basis), insurance portfolio for own risk, FY 2022 Direct Net Gains and losses through investment Impairments investment income statement income result On On Net underlying derivatives Bonds 2 137 -47 -223 -70 -293 1 796 Equities 340 -486 145 482 626
Slide 39: Profit from operations
Profit from operations CHF million (IFRS basis), segment result (reported vs. adjusted) FY 2021 FY 2022 Change Segments reported adjusted1) reported adjusted1) reported adjusted Switzerland 897 898 1 218 1 219 +36% +36% France 287 271 279 283 -3% +4% Germany 247 230 178 178 -28% -23% International 9
Slide 40: Profit by source
Profit by source FY 2022, based on adjusted segment result1) Asset Group2) thereof Switzerland France Germany International Managers CHF m CHF m EUR m EUR m EUR m CHF m 2 144 1 219 281 177 101 404 22 7 16 Savings 1 141 31 240 870 377 103 Risk 56 81 756 273 136 Fee 21 30 -41 Other 45 -88 -4 Costs -15
Slide 41: Profit by source: Structure and scope
Profit by source: Structure and scope + Income from investments1) + Income from savings premiums – Expense related to savings process Savings result – Technical interest2) = Investment spread – Policyholder participation = Net savings result Non-Life + Income from risk premiums Group Life – Expense
Slide 42: New business mix
New business mix New business production (NBP) 25% 27% 26% 28% 31% 31% 29% 33% 33% 33% 30% 40% 36% 39% 42% 43% Risk, health and P&C 26% 22% 28% 25% Modern 26% 27% 25% 26% Modern-traditional 16% 19% 9% 7% 11% Traditional 3% 2% 2% FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 Shift e
Slide 43: Supplementary information
Supplementary information Profit and loss Balance sheet Investments Value of new business Sustainability Abbreviations and disclaimer Contact details and financial calendar 43 | Investor presentation | Full-year results 2022
Slide 44: Allocation of unrealised gains/losses on financial assets
Allocation of unrealised gains/losses on financial assets CHF million (IFRS basis), as of 31.12.2022 +496 0 +3 937 +61 -1 843 -6 337 Unrealised Deferred Shadow Deferred Non-controlling Allocated to gains/losses policyholder DAC taxes interests shareholders’ on financial bonuses adjustment equity ass
Slide 45: Return on equity
Return on equity CHF million (IFRS basis) FY 2021 FY 2022 FY 2022 RoE calculation Net profit FY 2022 Shareholders’ equity 15 727 9 489 1 449 (attributable to shareholders) Unrealised gains/losses on financial Average adjusted - 4 380 1 843 11 340 assets allocated to shareholders’ equity shareholders
Slide 46: Insurance reserves excluding policyholder participation liabilities
Insurance reserves excluding policyholder participation liabilities CHF million (IFRS basis) Local currency 94 694 Switzerland -2% -2% 96 991 IN 36 630 13% France -3% +2% DE 37 878 10% 16 601 56% Germany -5% 0% 21% 17 451 FR 21 553 International -6% -3% CH 22 894 169 403 Total1) -3% -1% 175 095 FY 2
Slide 47: Insurance reserves and borrowings
Insurance reserves and borrowings CHF million (IFRS basis) Local 31.12.2021 31.12.2022 currency Insurance reserves 192 496 174 666 -9% -7% Policyholder participation liabilities 17 401 5 263 -69% Insurance reserves w/o PHP liabilities 175 095 169 403 -3% -1% Insurance liabilities 130 258 129 911 +1%
Slide 48: Swiss Life Group reserves subject to BVG minimum interest rates
Swiss Life Group reserves subject to BVG minimum interest rates CHF billion (IFRS basis) Breakdown of insurance reserves (incl. unit-linked) as of 31.12.2022 0.9 Non-life 56.9 Investment contracts & PH deposits Europe Total 26.0 Group Individual 174.7 18.2 Traditional Annuitised business & other Gua
Slide 49: Weighted duration gap
Weighted duration gap 1.2 1.2 0.9 0.7 0.6 0.4 31.12.2012 31.12.2014 31.12.2016 31.12.2018 31.12.2020 31.12.2022 49 | Investor presentation | Full-year results 2022
Slide 50: Supplementary information
Supplementary information Profit and loss Balance sheet Investments Value of new business Sustainability Abbreviations and disclaimer Contact details and financial calendar 50 | Investor presentation | Full-year results 2022
Slide 51: Change analysis of assets under management
Change analysis of assets under management CHF billion (fair value basis) Assets under management FY 2021 FY 2022 Change (bn) Total beginning of period 269.7 276.3 +6.6 Net new assets PAM -1.4 -5.3 TPAM 9.4 9.8 Market performance 2.0 -25.3 FX translation effects -4.1 -5.5 Other 0.7 - Total end of pe
Slide 52: Assets under management and administration
Assets under management and administration CHF billion, as of 31.12.2022 272.0 250.1 21.9 Total real estate under 110.8 management and administration Real estate 88.9 under management (both PAM & TPAM) Share of real estate Share of real estate Share of real estate by managing country by managing cou
Slide 53: TPAM: AuM and NNA
TPAM TPAM: AuM and NNA TPAM AuM: CHF 105.4 bn as of 31.12.2022 TPAM NNA: CHF 9.8 bn, FY 2022 (fair value basis) (fair value basis) Breakdown by asset class Breakdown by asset class Infrastructure 7% 24% Real estate Equity 8% Infrastructure 28% Balanced mandates 45% Real estate Equity Balanced mandat
Slide 54: Bond portfolio: Ratings and classification
PAM Bond portfolio: Ratings and classification Insurance portfolio for own risk (fair value basis) Breakdown by rating CHF million BB B 147 233 5% 3% AAA BBB 34% 22% 14% A 22% AA Breakdown by classification Bonds 48.6% Corporate 52% 48% Governments & supranationals bonds1) 31.12.2022 1) Including se
Slide 55: Government & supranational bonds: Ratings and currency
PAM Government & supranational bonds: Ratings and currency Insurance portfolio for own risk (fair value basis) Breakdown by rating CHF million BBB BB 147 233 A 1% 5% 5% 49% AAA 40% AA Breakdown by currency Government & CAD supranational 23.3% USD 4% bonds 14% EUR 36% 46% 31.12.2022 CHF 55 | Investor
Slide 56: Government & supranational bonds: Country split
PAM Government & supranational bonds: Country split Government and supranational bond portfolio (fair value basis), as of 31.12.2022, 23.3% of insurance portfolio for own risk (CHF 34.3 bn) % of total government and supranational bond portfolio Switzerland 36% Netherlands 9% France 8% Germany 8% Aus
Slide 57: Corporate bond portfolio: Ratings and currency
PAM Corporate bond portfolio: Ratings and currency Insurance portfolio for own risk (fair value basis) Breakdown by rating B CHF million BB AAA 147 233 5% 9% 21% 4% AA 39% A 22% BBB Breakdown by currency GBP 2% USD EUR 35% 38% Corporate 25.3% bonds1) 31.12.2022 25% 1) Including senior secured loan f
Slide 58: Corporate bond portfolio: Industry split
PAM Corporate bond portfolio: Industry split Corporate bond portfolio1) (fair value basis), as of 31.12.2022, 25.3% of insurance portfolio for own risk (CHF 37.2 bn) Breakdown by rating Breakdown by industry % of total corporate bond portfolio BBB Banks 34% 26% Other financials 6% 51% AAA Utilities
Slide 59: Loan and mortgage portfolio
PAM Loan and mortgage portfolio Insurance portfolio for own risk (fair value basis) Breakdown by country CHF million 147 233 Germany 28% 3% France 69% Switzerland Mortgages 6.9% Loans 2.9% Breakdown by type Other loans Purchased 3% loans 27% 70% 31.12.2022 Mortgages Average loan to value ratio < 60%
Slide 60: Real estate portfolio
PAM Real estate portfolio Insurance portfolio for own risk (fair value basis) Breakdown by country CHF million Other 147 233 Germany 2% 12% France 11% Real estate 28.2% 75% Switzerland Breakdown by type Other 13% Residential 15% 43% Retail 31.12.2022 29% Office 60 | Investor presentation | Full-year
Slide 61: Real estate portfolio (additional details)
PAM Real estate portfolio (additional details) Real estate exposure Real estate direct investment income1) Real estate direct investment yield1) CHF bn CHF m in %, based on average exposure 0% +4% 41.4 41.6 1 019 1 059 2.53% 2.55% FY 2021 FY 2022 FY 2021 FY 2022 FY 2021 FY 2022 Fair value changes Ne
Slide 62: Equities and alternative investments: Gross exposure
PAM Equities and alternative investments: Gross exposure Insurance portfolio for own risk (fair value basis) Breakdown by currency CHF million Other CHF 147 233 GBP 4% Equity & 11% 15% 8.2% equity funds 2.7% Alternative USD investments 22% 48% EUR Breakdown by investment type Private equity 3% 31.12
Slide 63: Forex and interest rates
Forex and interest rates Foreign currency exchange rates 31.12.21 30.06.22 31.12.22 01.01. – 31.12.21 01.01. – 31.12.22 EUR 1.0377 0.9998 0.9874 1.0814 1.0060 GBP 1.2335 1.1614 1.1154 1.2579 1.1808 USD 0.9114 0.9538 0.9219 0.9143 0.9551 Interest rates (10-year government bond) 31.12.21 30.06.22 31.1
Slide 64: Supplementary information
Supplementary information Profit and loss Balance sheet Investments Value of new business Sustainability Abbreviations and disclaimer Contact details and financial calendar 64 | Investor presentation | Full-year results 2022
Slide 65: New business margin
New business margin New business margin (NBM) development (VNB in % PVNBP) +0.2% 3.5% +0.5% 0.0% 2.9% Ambition (1.5%) Hurdle rate (1.0%) FY 2021 Economic & FX Volume, Expense & Other FY 2022 business mix and pricing 482 Value of new business (VNB) 497 16 824 PVNBP 14 034 1 625 APE 1 506 29.6% New bu
Slide 66: Value of new business per segment
Value of new business per segment CHF million (MCEV basis) Switzerland France Germany International Total 482 497 189 204 166 178 90 72 36 42 PVNBP 4 850 4 605 8 694 6 608 2 285 1 538 994 1 282 16 824 14 034 APE 280 344 1 133 928 117 110 95 124 1 625 1 506 NBM in % PVNBP 3.9% 4.4% 1.9% 2.7% 3.9% 4.7
Slide 67: Supplementary information
Supplementary information Profit and loss Balance sheet Investments Value of new business Sustainability Abbreviations and disclaimer Contact details and financial calendar 67 | Investor presentation | Full-year results 2022
Slide 68: Swiss Life 2024 strategic actions set direction for profitable growth path
Swiss Life 2024 strategic actions set direction for profitable growth path We enable people to lead a self-determined life Strategic actions Financial ambitions Deepen customer relationships Quality of earnings and earnings growth Strengthen advisory power Expand operational scalability Capital, cas
Slide 69: Sustainability is anchored in our business and at the heart of what we do
Sustainability is anchored in our business and at the heart of what we do Sustainability is an integral part of our business and at the heart of what we do Our actions Our contribution in business behaviour to society as an asset owner & manager to people’s lives in insurance & advisory to the envir
Slide 70: Sustainability actions and targets will support further stakeholder value creation
Sustainability actions and targets will support further stakeholder value creation Our sustainability targets within “Swiss Life 2024” Business behaviour Asset owner & manager Insurance products Advice Reduce CO2 emissions per FTE by 35% by 20241) and Reduce CO2 emission compensate emissions to inte
Slide 71: Swiss Life contributes to transparency and comparability through its reporting
Swiss Life contributes to transparency and comparability through its reporting Sustainability reporting • Swiss Life’s Sustainability Report is in accordance with the major standards for sustainability reporting such as: − the standards of the Global Reporting Initiative (GRI) − the standards for th
Slide 72: Swiss Life is an active member of many sustainability initiatives and networks
Swiss Life is an active member of many sustainability initiatives and networks 72 | Investor presentation | Full-year results 2022
Slide 73: Supplementary information
Supplementary information Profit and loss Balance sheet Investments Value of new business Sustainability Abbreviations and disclaimer Contact details and financial calendar 73 | Investor presentation | Full-year results 2022
Slide 74: Abbreviations
Abbreviations AGM Annual general meeting IFA Independent financial advisor ALM Asset and liability management IL Individual Life AM Business division Asset Managers IN Business division International APE Annual premium equivalent LC Local currency AuM Assets under management m Million bn Billion MCE
Slide 75: Disclaimer and cautionary statement
Disclaimer and cautionary statement This presentation does not constitute or form part of any advertising, offer, recommendation or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for any securities of Swiss Life, nor shall part or all of this presentation or i
Slide 76: Supplementary information
Supplementary information Profit and loss Balance sheet Investments Value of new business Sustainability Abbreviations and disclaimer Contact details and financial calendar 76 | Investor presentation | Full-year results 2022
Slide 77: Contact details and financial calendar
Contact details and financial calendar Contact Heidi Hinterhuber Phone +41 (43) 284 67 67 Head of Investor Relations E-mail heidi.hinterhuber@swisslife.ch Rolf Winter Phone +41 (43) 284 49 19 Senior Investor Relations Manager E-mail rolf.winter@swisslife.ch Dominik Gänsslen Phone +41 (43) 284 93 77
Slide 78: We enable people to lead a self-determined life.
We enable people to lead a self-determined life.