Swiss Life Continues to Impress With Fees
Swiss Life reported a decent set of first-quarter 2019 results. The key takeaways from these earnings are that the business reported 10% higher fee income of CHF 430 million and premium income was up 45% to CHF 10 billion, as a competitor, we think AXA, exited the Swiss group, most likely specifically the SME group, life market. After we rolled our model and incorporated higher estimates for higher fee growth, with a 400 basis point rise in policyholder reserves, we are raising our fair value es...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.
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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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