Information on share performance | In a reflection of the global financial market crisis, the development of the Swiss Life share price was disappointing in 2008. Following the distribution of profit in 2008 amounting to CHF 17 per share for the 2007 financial year, the Board of Directors will propose a distribution of CHF 5 per share for 2008 to the General Meeting of Shareholders in May.

The persistent distortion of the financial markets in 2008 weighed down on the price of the Swiss Life share. With the situation becoming increasingly acute, the price trend was particularly disappointing in the second half of the year. In August Swiss Life said that the share buyback programme of up to CHF 2.5 billion announced in connection with the extraordinary receipts from disposals would be restricted to a maximum of CHF 1 billion. The Board of Directors decided in November to suspend the buyback programme entirely, due to the further deterioration of the market environment. Swiss Life had bought back around 3 million shares by the end of October 2008 for CHF 686 million under the share buyback programme approved at the General Meeting of Shareholders in May 2008. At the General Meeting of Shareholders on 7 May 2009, the Board of Directors will propose a distribution of profit in the form of a repayment of par value amounting to CHF 5 per share.

Swiss Life share details 
Swiss security number1 485 278
ISINCH 001 485 278 1
Ticker symbol SIXSLHN
BloombergSLHN VX

Share performance 
Amounts in CHFas at2008as at2007
Number of shares (incl. conversions in 2008)31.12.200835 084 55431.12.200734 960 439
Annual high02./05.05.2008298.6606.11.2007326.00
Annual low21.11.200863.9016.08.2007266.50
Year-end price30.12.200872.4028.12.2007283.00
Performance Swiss Life (in %)–74–5
Swiss Market Index (SMI)30.12.20085 53528.12.20078 484
Performance Swiss Market Index (SMI) (in %)–35–3
Dow Jones STOXX 600 Insurance Index (in EUR)30.12.200813428.12.2007252
Performance of Dow Jones STOXX 600 Insurance Index (in %)  –47  –12
Average trading volume241 000327 843
Market capitalisation30.12.20082 540 121 71028.12.20079 893 804 237
Diluted earnings per share31.12.200810.8831.12.200739.60
Dividend paid per share29.07.200817.0003.08.20077.00
Dividend yield on year-end price (in %)30.12.200823.4828.12.20072.47
Source: Bloomberg

Breakdown of registered shares with voting rights   As at 31.12.2008  

Number of shares

Number of shareholders
In % of
1 – 25161 87983.21
26 – 10022 27811.45
101 – 1 0009 4954.88
> 1 0008860.46
Total194 538100.00

Standard & Poor's counterparty credit ratings 
As at 31.12.2008ClassificationOutlook
Swiss Life/Rentenanstalt, ZurichBBB+stable
Swiss Life Holding Ltd, ZurichBBB–stable

Standard & Poor's financial strength ratings 
As at 31.12.2008ClassificationOutlook
Swiss Life/Rentenanstalt, ZurichBBB+stable
Schweizerische Rententanstalt, Munich (Swiss Life/Rentenanstalt branch)BBB+stable


As at 31.12.2008

Convertible bond
EUR Perpetual


EUR Perpetual
nc10 Notes

 Issuer  Swiss Life Holding, Zürich  J.P. Morgan Bank, LuxemburgELM B.V. (independent repackaging vehicle)
S&P ratingBBB–BBB–BBB–
Nominal valueCHF 42 703 000EUR 350 000 000EUR 700 000 000
 Interest rate0.625%, payable annually5%, payable annually5.849%, payable annually
 Life June 2004 – June 2010November 2005 (issued), perpetualApril 2007 (issued), perpetual
 Listing SIXLuxembourg Stock ExchangeIrish Stock Exchange
1 The notes are issued by the fiduciary to fund a step-up subordinated perpetual loan to Swiss Life/Rentenanstalt.
2 The notes are issued by ELM to fund step-up subordinated perpetual loan notes to Swiss Life/Rentenanstalt which are guaranteed by Swiss Life Holding.