Swiss Life Holding AG’s German operations delivered the sharpest fee income expansion across the group, with revenue climbing 17% to EUR 744 million through the first nine months of 2026.
That jump was partly driven by a three-month contribution from TELIS Group, which was folded into the German segment between July and September 2026.
Across the entire group, fee income reached CHF 2.04 billion, an 8% advance in local currency terms compared with CHF 1.91 billion recorded in the same period a year earlier.
Total premium income also rose 8% to CHF 17.4 billion, with gains recorded in Switzerland, France, and Germany offsetting a pullback in the International market unit.
Growth in the fee business drew from multiple sources, including proprietary advisor channels, both own and third-party product lines, and the asset management arm.
Swiss Life Asset Managers posted total income of CHF 789 million, up from CHF 742 million a year ago, while third-party assets under management expanded 10% to CHF 161 billion on net new money inflows of CHF 8.5 billion.
France showed notable momentum in its life segment, where premiums climbed 6% and unit-linked solutions accounted for 72% of the mix, reflecting the company’s deliberate product focus.
Total French premiums rose 4% to EUR 6.1 billion, with fee income there advancing 12% to EUR 493 million over the nine-month stretch.
Switzerland, the group’s home base, generated premiums of CHF 9.4 billion and saw fee income grow 9% to CHF 289 million during the period.
Not every metric pointed upward: direct investment income slipped to CHF 2.96 billion from CHF 3.13 billion a year earlier, and premiums in the International segment fell 7% to EUR 1.5 billion.
The International unit’s fee income managed a 2% gain to EUR 286 million, offering some cushion against the premium decline in that segment.
On the capital side, Swiss Life launched a CHF 250 million share buyback programme on 1 October 2026, a move that had been flagged alongside the half-year results in September.
The company’s SST solvency ratio stood at approximately 205% as of 30 September 2026, indicating a solid capital buffer relative to regulatory requirements.
Group CEO Matthias Aellig pointed to consistency across quarters, saying, “Swiss Life continued the positive development from the first half of the year in the third quarter of 2026.”
The breadth of fee income growth, spanning advisory networks, product distribution, and asset management, suggests the company’s strategy of diversifying beyond traditional insurance premiums is gaining traction.
