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Swiss Life Holding AG (CH:SLHN)
:SLHN

Swiss Life Holding AG (SLHN) AI Stock Analysis

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Swiss Life Holding AG

(OTC:SLHN)

Rating:73Outperform
Price Target:
CHF919.00
▲(11.04%Upside)
Swiss Life Holding AG scores a 73, driven by strong earnings performance and positive technical indicators. The company's solid financial foundation and attractive valuation support its potential. While cash flow inconsistencies and challenges in certain segments present risks, positive earnings call highlights and successful program achievements boost investor confidence.

Swiss Life Holding AG (SLHN) vs. iShares MSCI Switzerland ETF (EWL)

Swiss Life Holding AG Business Overview & Revenue Model

Company DescriptionSwiss Life Holding AG provides life insurance, risk, pensions, and financial solutions for private and corporate clients. It operates through Switzerland, France, Germany, International, and Asset Managers segments. The company offers a range of life, pension, health, annuity, and investment-type policies to groups and individuals, as well as disability coverage. It also provides property and casualty, liability and motor, accident, and health insurance. In addition, the company manages assets and provides advisory services for institutional clients. Further, the company engages in the private equity, information technology, real estate, banking, restaurant, and investment funds businesses. Swiss Life Holding AG distributes its products through its agents, financial advisors, and distribution partners. The company operates in Switzerland and internationally under the Swiss Life Select, Tecis, Horbach, Proventus, Chase de Vere, and Fincentrum brands. Swiss Life Holding AG was founded in 1857 and is headquartered in Zurich, Switzerland.
How the Company Makes MoneySwiss Life Holding AG primarily generates revenue through the sale of life insurance products and pension plans. The company earns income from premiums collected on insurance policies and fees charged for managing pension schemes. Additionally, Swiss Life invests the premiums received from policyholders into various financial instruments, earning returns on these investments, which also contribute significantly to their revenue. The company benefits from strategic partnerships and collaborations, particularly in asset management, which further bolsters its income through advisory and management fees. Swiss Life's ability to provide comprehensive financial planning and advisory services not only enhances its product offerings but also creates cross-selling opportunities, boosting overall profitability.

Swiss Life Holding AG Earnings Call Summary

Earnings Call Date:Mar 14, 2025
(Q4-2024)
|
% Change Since: 9.74%|
Next Earnings Date:Sep 03, 2025
Earnings Call Sentiment Positive
The earnings call presented a strong overall performance for Swiss Life in 2024, with significant achievements in fee results, profit from operations, and cash remittance. However, there were challenges in certain segments such as revenue decrease and value of new business declines in Switzerland and Germany. Overall, the highlights significantly outweigh the lowlights.
Q4-2024 Updates
Positive Updates
Fee Result Achieves Target Range
The fee result increased by 33% to $875 million, hitting the middle of the CHF 850 million to CHF 900 million target range for 2024.
Strong Growth in Profit from Operations
Profit from operations grew by 20% to CHF 1.78 billion, driven by asset managers and the French insurance business.
Increase in Net Profit
Net profit increased by 13% to CHF 1.26 billion.
High Return on Equity
Return on equity increased to 16.6%, up 3 percentage points and well above the target range of 10% to 12%.
Cash Remittance Growth
Cash remittance grew by 14% to CHF 1.3 billion, including positive one-offs and timing effects.
Dividend Increase
A 6% increase in the dividend is proposed, raising it to CHF 35 per share, which corresponds to a payout ratio of 81%.
Successful Swiss Life 2024 Program Completion
The program exceeded all group financial targets and laid the groundwork for the Swiss Life 2027 program.
Asset Managers' Strong Performance
Total income in the asset managers segment increased by 22% to CHF 1.2 billion.
Net New Assets in TPAM Business
Net new assets in the TPAM business amounted to CHF 9.5 billion, driven by strong inflows in equities and real assets.
Negative Updates
Decrease in Revenues
Revenues decreased by 1% to CHF 8.7 billion due to lower CSM release and FX effects.
Increase in Service Expenses
Service expenses rose to CHF 7.6 billion in line with higher PAA revenues and non-viable expenses.
Value of New Business Decline in Switzerland
The value of new business decreased by 19% to CHF 189 million due to lower volumes and business mix effects.
Value of New Business Decline in Germany
The value of new business decreased by 24% to €46 million due to lower unit-linked volumes and acquisition cost efficiency.
Challenges in International Segment
Premiums decreased by 4% to €1.7 billion, more than offset by lower premiums with private clients.
Company Guidance
During the Swiss Life 2024 full-year results conference call, several key financial metrics were highlighted. The fee result increased by 33% to $875 million, aligning with the CHF 850 million to CHF 900 million target range. The operating result from the insurance business rose by 12%, primarily due to a rebound in health and protection in France, leading to a 20% growth in profit from operations, totaling CHF 1.78 billion. Net profit saw a 13% increase, reaching CHF 1.26 billion. Return on equity was 16.6%, surpassing the target range of 10% to 12%. Cash remittance grew by 14% to CHF 1.3 billion, including one-offs and timing effects at asset managers totaling CHF 0.14 billion. A dividend increase of 6% to CHF 35 per share was proposed, resulting in a payout ratio of 81%. The Swiss Life 2024 program exceeded all financial targets, including cumulative cash remittance of CHF 3.5 billion over three years. The Swiss Life 2027 program was introduced with a focus on increasing customers, advisors, and efficiency to drive earnings growth and cash returns to shareholders.

Swiss Life Holding AG Financial Statement Overview

Summary
Swiss Life Holding AG demonstrates solid profitability with stable net margins and effective cost management. Despite revenue fluctuations and a declining equity ratio, the company's leverage remains controlled. Cash flow inconsistencies present a potential risk, but recent improvements in free cash flow provide a positive outlook. Overall, the company's financial health is stable with room for growth in cash flow stability.
Income Statement
70
Positive
Swiss Life Holding AG exhibits a robust EBIT and EBITDA margin, indicating strong profitability. However, the revenue has shown fluctuations over the years, with a noticeable decline in the most recent year. The net profit margin remains stable, reflecting effective cost management.
Balance Sheet
65
Positive
The company has a moderate debt-to-equity ratio, suggesting a balanced approach to leverage. The equity ratio has decreased over the years, indicating a reliance on liabilities. Return on equity is satisfactory, showing effective utilization of shareholder funds.
Cash Flow
60
Neutral
Cash flow from operations has been inconsistent, with a significant decline in the latest year. However, free cash flow has shown some recovery, indicating potential for future cash flow improvements. The free cash flow to net income ratio suggests cautious cash management.
Breakdown
Dec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income StatementTotal Revenue
14.43B15.24B20.36B21.52B22.42B
Gross Profit
14.43B15.11B20.36B21.52B22.42B
EBIT
1.64B1.34B2.03B1.76B1.58B
EBITDA
2.13B1.80B1.93B1.93B1.60B
Net Income Common Stockholders
1.21B1.08B1.18B1.25B1.05B
Balance SheetCash, Cash Equivalents and Short-Term Investments
59.45B5.89B6.91B7.21B7.87B
Total Assets
218.93B213.44B217.33B240.65B237.78B
Total Debt
9.41B9.49B14.83B13.02B12.86B
Net Debt
4.35B3.60B7.92B5.81B4.99B
Total Liabilities
211.26B205.15B207.72B224.80B220.94B
Stockholders Equity
7.52B7.50B9.49B15.73B16.75B
Cash FlowFree Cash Flow
56.00M-1.08B918.00M200.00M421.00M
Operating Cash Flow
186.00M-975.00M1.00B289.00M464.00M
Investing Cash Flow
-465.00M-111.00M3.00M-194.00M-40.00M
Financing Cash Flow
-580.00M-1.42B-1.12B-625.00M-719.00M

Swiss Life Holding AG Technical Analysis

Technical Analysis Sentiment
Positive
Last Price827.60
Price Trends
50DMA
781.94
Positive
100DMA
756.05
Positive
200DMA
715.79
Positive
Market Momentum
MACD
12.25
Positive
RSI
63.11
Neutral
STOCH
82.44
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:SLHN, the sentiment is Positive. The current price of 827.6 is above the 20-day moving average (MA) of 814.97, above the 50-day MA of 781.94, and above the 200-day MA of 715.79, indicating a bullish trend. The MACD of 12.25 indicates Positive momentum. The RSI at 63.11 is Neutral, neither overbought nor oversold. The STOCH value of 82.44 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CH:SLHN.

Swiss Life Holding AG Peers Comparison

Overall Rating
UnderperformOutperform
Sector (64)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
73
Outperform
$23.50B19.4616.43%3.95%0.44%14.07%
67
Neutral
CHF8.66B22.64
4.22%-4.03%60.24%
66
Neutral
CHF10.19B21.37
3.49%11.93%70.26%
64
Neutral
$12.77B9.777.59%16985.66%12.31%-7.69%
$100.15B17.8523.10%4.45%
$50.85B15.9116.71%3.91%
€1.90B12.275.89%3.89%
* Financial Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
CH:SLHN
Swiss Life Holding AG
827.60
222.54
36.78%
CH:BALN
Baloise Holding AG
193.00
44.74
30.18%
CH:HELN
Helvetia Holding AG
193.30
77.52
66.95%
ZFSVF
Zurich Insurance Group
706.01
197.84
38.93%
SSREF
Swiss Re AG
173.18
51.89
42.78%
DE:VAHB
Vaudoise Assurances Holding SA
648.00
221.08
51.78%

Swiss Life Holding AG Corporate Events

Swiss Life Releases 2024 Operating Statement for Swiss Occupational Benefits
May 28, 2025

Swiss Life has released its 2024 operating statement for its occupational benefits business in Switzerland, detailing the income statement, balance sheet, surplus fund, and investment portfolio. This release underscores Swiss Life’s commitment to transparency and compliance, potentially strengthening its position in the Swiss financial services market and providing stakeholders with valuable insights into its financial health.

The most recent analyst rating on (CH:SLHN) stock is a Hold with a CHF707.00 price target. To see the full list of analyst forecasts on Swiss Life Holding AG stock, see the CH:SLHN Stock Forecast page.

Swiss Life Reports Strong Start to 2025 with Growth Across Key Segments
May 20, 2025

Swiss Life Holding AG reported a strong start to 2025, with significant growth in both its insurance and fee business. The company saw a 6% increase in premium income and a 3% rise in fee income, driven by its own and third-party products. Swiss Life Asset Managers also experienced robust net new money inflows, contributing to an increase in assets under management. The company’s strategic ‘Swiss Life 2027’ program aims to continue this positive trajectory, enhancing its market position and stakeholder value.

The most recent analyst rating on (CH:SLHN) stock is a Hold with a CHF707.00 price target. To see the full list of analyst forecasts on Swiss Life Holding AG stock, see the CH:SLHN Stock Forecast page.

Swiss Life Shareholders Approve Board Proposals and Dividend
May 14, 2025

Swiss Life Holding AG’s shareholders have approved all proposals from the Board of Directors at the company’s General Meeting, including a dividend distribution of CHF 35.00 per registered share. The meeting, attended by around 1270 shareholders, also confirmed Rolf Dörig as Chairman and re-elected the board members for another year. This approval reflects strong shareholder support and may enhance Swiss Life’s market positioning by reinforcing investor confidence and ensuring continuity in leadership.

The most recent analyst rating on (CH:SLHN) stock is a Hold with a CHF707.00 price target. To see the full list of analyst forecasts on Swiss Life Holding AG stock, see the CH:SLHN Stock Forecast page.

Swiss Life Confirms Strong Solvency Position in Latest Financial Report
Apr 25, 2025

Swiss Life Holding AG has published a report on its financial situation, confirming a strong solvency position with a Swiss Solvency Test (SST) ratio of 201% as of December 31, 2024, exceeding its strategic target range. This announcement underscores Swiss Life’s robust financial health and stability, which is likely to reinforce its position in the European financial solutions market and assure stakeholders of its continued operational strength.

Swiss Life Releases 2024 Annual and Climate Reports
Apr 16, 2025

Swiss Life Holding AG has published its Annual Report for 2024, which includes consolidated financial statements, corporate strategy, governance, risk management, and a sustainability report. The report also features a climate report aligned with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations, underscoring Swiss Life’s commitment to transparency and sustainability. This comprehensive disclosure is likely to enhance Swiss Life’s industry positioning and provide stakeholders with valuable insights into the company’s operations and strategic direction.

Swiss Life Places EUR 500 Million Senior Bond in European Market
Mar 17, 2025

Swiss Life Holding AG has successfully placed a senior bond worth EUR 500 million in the European market, with a maturity until 2035 and a coupon of 3.75%. The proceeds from this bond will be used for general corporate purposes, including potential refinancing of existing instruments, which could impact the company’s financial flexibility and market positioning.

Swiss Life Achieves Strong Financial Growth in 2024
Mar 14, 2025

Swiss Life Holding AG announced a significant increase in its financial performance for 2024, with a 33% rise in fee results and a 13% increase in net profit, successfully completing its ‘Swiss Life 2024’ program. The company exceeded most of its financial targets, including a return on equity of 16.6% and a substantial cash transfer to the holding, positioning itself strongly for future growth and stakeholder confidence.

Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.