Swiss Life Holding AG

Swiss Life Holding AG reported strong first-half 2026 results, with fee result up 11% to CHF430 million and net profit up 8% to CHF649 million, while announcing a new CHF250 million share buyback. Profit from operations rose 8% in local currency to CHF967 million, and return on equity reached 20.2% annualized. Cash remittance to the holding company increased 5% to CHF1.2 billion. The SST ratio is estimated at 25% (likely a typo for 225%) at end of June 2026, up from 213% at end of 2025. The company also announced a reduction of around 600 positions by end of 2028, with restructuring costs expected to offset cost savings in 2027-2028. The TELIS acquisition will add 1,800 advisers and contribute an operating result of CHF25-30 million for a full year, with only half recognized in H2 2026.

Swiss Life Group announced plans to eliminate roughly 600 positions by the end of 2028, as the insurer reported an 8% increase in first-half profit. The job cuts, largely through natural attrition, will be split about evenly between Swiss Life's Swiss operations and Swiss Life Asset Managers, with the latter concentrated overseas. Around 100 roles have already been eliminated via selective non-replacement of vacancies, and the group expects roughly 100 further redundancies before the end of 2026. Net profit for H1 2026 reached $801.7 million (SFr649 million), while operating profit climbed 8% at constant currency to SFr967 million. The fee result grew 11% to SFr430 million, lifted by a SFr29 million gain from transferring the Swiss Life International network business to a partner company. Swiss Life also confirmed the completion of its acquisition of TELIS Group on 1 July 2026, though the deal's impact is not in the half-year numbers.