Swiss Life 1Q 2018: Good TPAM Inflows and French Sales of Unit-Linked
Swiss Life reported a 4% constant-currency increase in premium income. These results are broadly in line with our expectations, and we therefore maintain our CHF 385 fair value estimate and our no-moat and stable trend ratings.Swiss Life Asset Managers increased third-party assets, or TPAM, by CHF 2.4 billion to just under CHF 63.6 billion. Most of the inflow came into balanced funds and real estate, as the unit also saw an outflow from money market business in France.
The nonannualised direct ...
Swiss Life is a holding company, engaged in providing life insurance and pension solutions and services. Co.'s segments include: Switzerland, France, Germany, International, Asset Managers, and Other. Co.'s Switzerland, France, Germany and International segments primarily consist of life insurance operations and distribution units. The life insurance operations provides a range of life, pension, health, annuity and investment-type policies to both groups and individuals, including disability coverage. Co. focuses primarily on life and pensions in Switzerland, France and Germany and on cross-border business from Liechtenstein, Luxembourg and Singapore.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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