According to figures published on Thursday, Swiss Life increased both premium volume and fee income in the first quarter and said it remains on track with its corporate programme «Swiss Life 2027».

Fee income rose by 6 percent in local currency during the first three months of 2026 to 686 million francs. Premium volume increased by 5 percent to 8,2 billion francs. Business developed particularly dynamically in asset management, with proprietary advisory channels as well as services and products for third-party providers.

«In the first quarter of 2026, we achieved pleasing growth in business volume and further expanded both our fee business and insurance business,» said Group CEO Matthias Aellig.

He added that it was particularly encouraging that fee business had increased across all divisions.

Switzerland Remains the Main Growth Driver

Swiss Life recorded particularly strong growth in its home market of Switzerland. Premium income rose by 10 percent to just under 5 billion francs. Fee income increased by 2 percent to 93 million francs.

In France, premium income declined slightly. However, Swiss Life continued to expand its higher-margin unit-linked business there. The share of unit-linked solutions in the life insurance business rose from 65 percent to 73 percent. Fee income in France increased by 8 percent.

Growth also continued in Germany. There, premium income rose by 3 percent, while fee income increased by 5 percent to 238 million euro.

Asset Management Expands Despite Lower Inflows

Swiss Life Asset Managers increased total revenues in the first quarter by 12 percent to 261 million francs. The TPAM business with third-party client assets contributed 171 million francs. Assets under management rose to 148 billion francs.

Net new money inflows, however, declined to 4,2 billion francs after reaching an exceptionally high 9,3 billion francs in the previous year.

Direct investment income, by contrast, developed negatively. It fell from 1,08 billion francs to 942 million francs. Swiss Life attributed this decline to lower returns from infrastructure and equity investments as well as negative currency effects.

The SST ratio stood at around 210 percent at the end of March, remaining well above the strategic target range of 140 to 190 percent. The ongoing share buyback programme of 750 million francs is also progressing according to plan.

Strengthened Market Position in Germany

Alongside its operational growth, Swiss Life is continuing to expand its advisory platform in Germany. Swiss Life Germany is acquiring the Telis Group, which has around 1,800 certified advisers.

Following the acquisition, the German advisory network will grow to around 8'000 advisers. Annual fee income, including Telis, is expected to exceed 1 billion euro in future.

«We are firmly convinced that qualified personal financial advice, supported in the best possible way by digital tools, is essential for our target groups and will therefore remain a growth market,» said Dirk von der Crone.

The Telis Group’s brands and sales independence are to remain unchanged.

Completion of the transaction is expected in the third quarter of 2026, subject to regulatory approvals.