1. Sep 2026
Description
(AWP Alliance News) - Swiss Life Holding AG on Tuesday reported a rise in half-year profit, announced a new share buyback, and set out plans to cut 600 positions, amid a plan on focus on "growth and efficiency".
The Zurich-based insurance provider said it plans to "further expand its business profitably beyond 2027" and increase efficiency.
"This also includes a reduction of around 600 positions by the end of 2028, largely through natural attrition. Roughly half of the 600 jobs are at Swiss Life in Switzerland and half at Swiss Life Asset Managers mainly abroad. Through the selective filling of vacancies, there has already been a reduction of around 100 positions in this context. Swiss Life expects around 100 redundancies by the end of 2026," it said.
Net profit in the first half of 2026 amounted to CHF649 million, around USD801.3 million, up 7.8% from CHF602 million a year before.
Gross written premiums increase 1.8% to CHF12.33 billion from CHF12.11 billion a year prior.
"We achieved pleasing growth in our fee and insurance business during the first six months of the year," Chief Executive Officer Matthias Aellig said.
Swiss Life said it is launching a new CHF250 million share buyback. It kicks off at the start of October and will conclude in March.
The stock was down 0.9% to CHF911.20 each in Zurich on Tuesday afternoon.
By Eric Cunha, Alliance News news editor
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