In 2014, Swiss Life generated adjusted profit from operations across all segments of CHF 1182 million. This 4% increase over the previous year is due to higher premium income, the growth of fee and commission income and the further improvement of efficiency ratios. Net profit came to CHF 818 million in the period under review.
Swiss Life reports by country: Switzerland, France and Germany. It also discloses separately the results of its cross-border segments: International and Asset Managers. In the Swiss domestic market, Swiss Life achieved a segment result of CHF 657 million (–8%); allowing for a positive one-off effect during the previous year the result remained stable at a high level. France increased its segment result to CHF 216 million (+12%), Germany contributed CHF 92 million (2013: CHF 96 million). The International market unit generated a segment result of CHF 34 million (2013: CHF 16 million). Swiss Life Asset Managers increased its contribution to the results by 13% to CHF 188 million. Net profit over all segments rose by 4% to CHF 818 million (2013: CHF 784 million).
In the 2014 financial year, the Swiss Life Group maintained its focus on profitable growth and diversification of profit sources. Gross written premiums, policy fees and deposits received across all segments grew by 7% in local currency to CHF 19.1 billion (2013: CHF 18 billion). At the same time fee and commission income rose by 15% in local currency to CHF 1.3 billion.