In the 2025 financial year, AXA Switzerland’s premium volume increased by 7 percent to 6,6 billion francs. Net profit rose by 3 percent to 805 million francs, the insurer announced on Thursday. The company cited lower claims resulting from severe weather events as the main reason.

In property and casualty insurance, premium income grew by 4 percent to 4,2 billion francs. The retail customer business increased by 6 percent to 2,1 billion francs, while the corporate customer business rose by 2 percent to 2,1 billion francs.

All segments of property and casualty insurance for retail customers developed «very positively.» In particular, motor vehicle insurance recorded strong growth. «At the same time, the trend toward rising claims frequency and persistently increasing spare parts costs in motor vehicle and household insurance continues,» the insurer emphasized.

In the corporate customer segment, premium growth in collective accident and health insurance as well as in liability insurance contributed in particular to the positive development. In daily sickness benefits insurance, the trend toward increasing absences from work due to mental illness continues. This has led to a higher claims burden.

Life and Health Segments Show Strong Growth

Growth was significantly stronger in the life and health segments. In individual life insurance, premium income rose by 21 percent to 1,4 billion francs, while in collective life insurance it increased slightly to 845 million francs. In health insurance, premium volume grew by 20 percent to 135 million francs.

The SmartFlex Wealth Plan, introduced in mid-2024 and expanding the product range with a single-premium pillar 3 product, has met with strong demand.

Assets under management for third-party clients in asset management increased by 7 percent to 56 billion francs, driven by net new money inflows and positive market performance. Illiquid investments such as real estate, mortgages and alternative asset classes in particular contributed to this success, the company said.

Market Position Expanded

«We look back on a very successful year; 2025 was marked by strong demand for our offerings, which led to substantial premium growth,» said AXA Switzerland CEO Patric Deflorin, who took over the role at the beginning of the year. The company significantly expanded its market position, particularly in life insurance and health insurance. Deflorin attributed this to the broadened product range.

«Claims from natural events were lower compared to previous years, although the devastating landslide in Blatten was a tragic exception,» he added. «Our claims experts were able to assist those affected on site quickly and without unnecessary bureaucracy, demonstrating that we keep our promise to be there for our customers reliably in difficult situations.»

The lower level of severe weather and major claims compared with the previous year had a positive impact on the combined ratio. It declined by 0,3 percentage points to 90,1 percent. The rockslide in Blatten in May 2025 resulted in claims expenses of 40 million francs.