Priorities for 2009: Focus on innovation and efficiency | Swiss Life was unable to escape the damage inflicted by the financial market crisis in 2008. The annual result is disappointing and the financial targets have not been met due to the negative developments on the financial markets. However, Swiss Life made further progress in the implementation of its strategy. It significantly expanded distribution, strengthened its position in all markets thanks to product innovations, and created the prerequisites for further efficiency improvements.

In March 2009 Swiss Life announced a strategic partnership with Talanx, the third largest insurance group in Germany in terms of premium income. The two companies will cooperate in certain defined areas. With this partnership, Swiss Life aims to drive international growth and to strengthen its market position in Germany further. To reinforce this partnership, Talanx will purchase a stake of around 10% in Swiss Life. Talanx will also acquire a 8.4% participation in MLP from Swiss Life. Swiss Life intends to reduce its remaining participation in MLP from 15.9% to below 10%. Independently of each other, Swiss Life and Talanx will each seek to cooperate with MLP within the new structure.

Due to the volatile market environment, Swiss Life has decided not to redefine its long-term targets at present. In 2009, Swiss Life will concentrate on protecting its solid capital base, consistently implementing its strategy with a focus on efficiency and innovation and thus on exploiting the available potential even more effectively.

The market for life insurance and pensions will continue to grow over the long term. As a leading international life and pensions specialist, Swiss Life is well positioned to benefit significantly from this market development and to create attractive added value and open up interesting perspectives for its shareholders, clients and employees.

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