Swiss Life Holding AG (0QMG) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, welcome to the Swiss Life Q3 2025 Trading Update conference call and live webcast. I am Sandra, the course call operator. I would like to remind you that all participants have been listened only mode and the conference has been recorded. The presentation will be followed by a Q&A session. You can register for questions at any time by pressing star and 1 on your telephone. Webcast viewers may submit their questions or comments in writing by the relative field. Kindly note that the webcast question will be answered after the call. For operator assistance, please press star and zero. The conference must not be recorded for publication or broadcast. At this time, it's my pleasure to hand over to Matthias Ehrlich, Group CEO of Swiss Life. Please go ahead, sir. Good morning, ladies and gentlemen. Thank you for dialing in and for your interest in Swiss Life. Today, we are reporting on selected top-line figures for the first nine months of 2025. I will provide an overview of today's key messages and our group CFO, Marco Terussi, will give you more details. The first nine months of 2025, Swiss Life increased its fee and commission income by 3% in local currency to 1.9 billion. Gross written premiums, fees and deposits received increased by 3% in local currency to 16.3 billion. Direct investment income grew to 3.1 billion, which corresponds to a non-annualized direct investment yield of 2.2%. Swiss Life Asset Managers reported very strong net new asset inflows of 15 billion in the third-party asset management compared to 3.4 billion in the prior year period. The SST ratio was estimated to be around 205% at the end of September 2025. I am pleased with the business development in the nine months of 2025, which reflects the continuation of our operational pe...