In 2011, Swiss Life generated an overall segment profit from operations of CHF 699 million (2010: CHF 694 million). Adjusted for one-offs and currency effects, profit from operations rose 6% to CHF 793 million.
Swiss Life not only reports its insurance business by country (Switzerland, France and Germany), it also discloses separately the results of its cross-border segments, namely Insurance International, Investment Management and AWD. The company posted a profit of CHF 476 million in its home market Switzerland, CHF 124 million in France and CHF 58 million in Germany. The Investment Management segment achieved an excellent result of CHF 130 million. The successful reorganisation of AWD was confirmed with adjusted operating profit of EUR 54 million (2010: EUR 49 million), although its operating result was encumbered by provisions for legal cases amounting to EUR 47 million, producing EBIT of EUR 7 million and a segment loss of CHF 13 million. Swiss Life International reported a loss of CHF 10 million.
The Group continued its drive towards profitable growth and grew in strategically important business areas. Gross written premiums, policy fees and deposits received for all segments stood at an overall figure for 2011 of CHF 17.1 billion, equivalent to a currency-adjusted decline of 10%.