August 13, 2019 / 5:00 AM / 3 months ago

BRIEF-Swiss Life: We Expect Single Premiums To Return To More Normal Level Next Year

Aug 13 (Reuters) - Swiss Life Holding AG:

* INCREASES FEE INCOME IN THE FIRST HALF OF 2019 – PROFIT FROM OPERATIONS UP BY 6%

* INCREASED ITS ADJUSTED PROFIT FROM OPERATIONS BY 6% AGAINST THE PRIOR-YEAR PERIOD TO CHF 846 MILLION

* FEE RESULT INCREASED BY 7% TO CHF 260 MILLION

* POSTED PREMIUMS OF CHF 14.1 BILLION IN THE FIRST SIX MONTHS OF THE YEAR

* PREMIUM INCREASE IS DUE TO THE WITHDRAWAL OF A COMPETITOR FROM THE FULL INSURANCE BUSINESS IN SWITZERLAND

* DIRECT INVESTMENT INCOME WAS AT THE PRIOR-YEAR LEVEL (CHF 2.24 BILLION)

* SWISS LIFE ASSET MANAGERS ACQUIRED NET NEW ASSETS OF CHF 6.2 BILLION IN ITS THIRD-PARTY BUSINESS IN THE FIRST HALF OF 2019

* AT THE END OF JUNE 2019, ASSETS UNDER MANAGEMENT FOR THIRD PARTIES CAME TO CHF 79.5 BILLION, 12% HIGHER THAN AT THE END OF 2018

* ACHIEVED AN ADJUSTED RETURN ON EQUITY OF 11.4% IN THE FIRST SIX MONTHS OF THE YEAR (PREVIOUS YEAR: 10.4%)

* INSURANCE RESERVES FOR THE BENEFIT OF THE COMPANY'S POLICYHOLDERS ROSE BY 5% IN LOCAL CURRENCY

* ESTIMATES ITS SST RATIO AT ABOUT 200% AS OF 30 JUNE 2019, BASED ON THE REGULATORY SOLVENCY MODEL

* WE EXPECT SINGLE PREMIUMS TO RETURN TO A MORE NORMAL LEVEL NEXT YEAR Source text: tinyurl.com/yya4afqn Further company coverage: (Reporting by Berlin Speed Desk)

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