Swiss Life Holding AG · SIX:SLHN
Swiss Life — Merger or Acquisition (February 2005)
24 slides from Swiss Life's merger presentation, Feb 1, 2005
Slide 1: Swiss Life – Prepared for the future
fo SwissLife Prepared for the future.
Slide 2: Swiss Life strengthens position in domestic market
Media conference Swiss Life strengthens position in domestic market Zurich, 1 February 2005
Slide 3: Agenda
Agenda 1. Successful implementation of strategy Rolf Dörig 2. Strengthening position in domestic market Paul Müller 3. Summary and outlook Rolf Dörig 4. Q&A session 3
Slide 4: Strategic goals achieved in 2004
Strategic goals achieved in 2004 Concentration on core businesses – profitable growth Concentration on core business and selected Focus markets Growth and increasing market share in Growth Switzerland and abroad Realisation of cost savings and reduction in Profitability operating costs Service quali
Slide 5: Focus on life insurance and pension solutions
Focus on life insurance and pension solutions Divestment of non-core businesses 2003 2004 April February Profitline: sale of funds Sale of third-party business; integration of life private equity business business May June Sale of Schweizerische Separation of Treuhandgesellschaft STG Banca del Gotta
Slide 6: Agenda
Agenda 1. Successful implementation of strategy Rolf Dörig 2. Strengthening position in domestic market Paul Müller 3. Summary and outlook Rolf Dörig 4. Q&A session 6
Slide 7: Strengthening of core business
Strengthening of core business Sale of non-life operations – distribution partnerships Stronger Divestment of core business non-core businesses Integration Partnerships Sale «La Suisse» life operations Distribution partners «La Suisse» non-life Vaudoise group life • Concentration on the Swiss Life b
Slide 8: Merger of the sales organisations
Merger of the sales organisations Distribution network with 780 insurance consultants at 59 general agencies Central Switzerland/Ticino region Regional service centres 15 general agencies General agencies l l l l Berne region l l l l l l ll l l l 14 general agencies l l l l ll l l St. Gall Eastern S
Slide 9: Portfolio transfers
Portfolio transfers Overview of all transactions (based on 2003 data) Individual Integration Individual insurance of 88 000 contracts insurance Premiums: CHF 180m MR: CHF 2.3bn Group Integration Group Purchase Group insurance of 6 900 contracts insurance of 7 300 contracts insurance Premiums: CHF 59
Slide 10: Expanding market position
Expanding market position Market share of life business, 2003 Group insurance: 26.4% Individual insurance: 19.8% Swiss Life Swiss Life 21.4% 17.9% «La Suisse» «La Suisse» 2.6% 1.9% Vaudoise 2.4% Source: Federal Office for Private Insurance 10
Slide 11: Distribution partnerships
Distribution partnerships New distribution and sales channels for future growth Swiss Life supports Swiss Life sells Helsana‘s KTG/UVG Vaudoise in group solutions, which it also manages (with insurance. portfolio protection). Support KTG/UVG Group insurance Group insurance Vaudoise sells Swiss Life‘
Slide 12: Continuity for clients
Continuity for clients Obligations entered into by «La Suisse» will be met Services and conditions of current contracts will not change in any way during the agreed term. Swiss Life, Vaudoise and Helsana assume the rights and obligations entered into by «La Suisse» in contracts with its clients. As
Slide 13: Jobs remain largely intact
Jobs remain largely intact 100 jobs to be discontinued in 2005 - a further 100 jobs in 2006/07 900 100 100 100 Job reductions 2005 Transfer to Helsana (100 employees) 270 Transfer to Vaudoise (170 employees) Transfer to Swiss Life 430 (especially sales, customer service life, IT) 100 Job reductions
Slide 14: Staff affected receive individual support/advice
Staff affected receive individual support/advice Employees will be informed of their individual position within 3 months Time given for job Infrastructure and Personal advice search tools A personal adviser assists Staff affected are permitted Staff affected can use office staff affected by cuts in
Slide 15: Rapidly implemented distribution
Rapidly implemented distribution Operational from beginning of April 2005 February March April May June Selection Heads of general agencies Integrated distribution and sales network Selection Insurance consultants Training Additional training • Merger of Swiss Life and «La Suisse» distribution and s
Slide 16: Gradual integration process
Gradual integration process Implementation stages 2005 2006 2007 Integrated distribution Life and central functions Conversion of Migration of group insurance individual insurance Divestments Non-life Implementation of cooperation agreements • Two-stage conversion of «La Suisse» group life policies
Slide 17: Agenda
Agenda 1. Successful implementation of strategy Rolf Dörig 2. Strengthening position in domestic market Paul Müller 3. Summary and outlook Rolf Dörig 4. Q&A session 17
Slide 18: Stronger position in domestic market (I/II)
Stronger position in domestic market (I/II) Implementation of strategy - important milestones • Strengthening of life operations; divestment of non-life operations • Concentration on Swiss Life brand Stronger distribution network • A single external sales unit rather than two competing organisations
Slide 19: Stronger position in domestic market (II/II)
Stronger position in domestic market (II/II) Continuity for clients • Contracts/policies remain valid in unchanged form • As a rule, existing advisers continue to serve their clients Jobs remain largely secure • 100 positions to be discontinued in 2005; a further 100 positions to be discontinued in
Slide 20: Swiss Life – on course
Swiss Life – on course Consistent implementation of strategy Targeting profitable, sustainable growth Consolidate financial strength 20
Slide 21: Agenda
Agenda 1. Successful implementation of strategy Rolf Dörig 2. Strengthening position in domestic market Paul Müller 3. Summary and outlook Rolf Dörig 4. Q&A session 21
Slide 22: Swiss Life – Prepared for the future
fo SwissLife Prepared for the future.
Slide 23: Contacts
Contacts Media Relations Hotline Tel. +41 (43) 284 77 77 E-mail: media.relations@swisslife.ch Iris Welten Tel. +41 (43) 284 67 67 Head of Investor Relations E-mail: iris.welten@swisslife.ch Fabrizio Croce Tel. +41 (43) 284 49 19 Investor Relations Manager E-mail: fabricio.croce@swisslife.ch Visit ou
Slide 24: Cautionary statement regarding forward-looking information
Cautionary statement regarding forward-looking information This presentation is made by Swiss Life and may not be copied, altered, offered, sold or otherwise distributed to any other person by any recipient without the consent of Swiss Life. Although all reasonable effort has been made to ensure the