Swiss Life launches new $ 1.07 billion share buyback and increases dividend payouts


ZURICH, Nov. 25 (Reuters) – Swiss Life (SLHN.S) will launch a new buyout of 1 billion Swiss francs ($ 1.07 billion) and raise its dividend payout rate to over 60%, announced Thursday the company, as it announced higher profit targets for its Investor Day.

The company wants to increase its annual profit from 850 to 900 million Swiss francs by 2024, he said, from 600 to 650 million francs currently.

Swiss Life said it also wants to increase the cumulative remittances to the holding company to 2.8 billion to 3.0 billion from 2022 to 2024. It will do so through higher income from asset management, unit-linked products and independent financial advisory organizations it owns. .

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The new buyout will run from December 2021 to May 2023, the life insurance company said. It also aims to increase its payout rate from 50% to 60% of net income under the previous Swiss Life 2021 program.

“Swiss Life has completed three consecutive group-wide programs since 2009. And we will also meet or exceed our targets with the current“ Swiss Life 2021 ”program,” said Patrick Frost, Managing Director.

“Over the next three years, we will resolutely continue on our way and focus on deepening client relationships, expanding our consulting organizations, operational scalability and anchoring our sustainability strategy. We will thus seize opportunities for profitable growth and a substantial increase in our financial objectives.

($ 1 = 0.9334 Swiss francs)

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Reporting by John Revill Editing by Riham Alkousaa and Kim Coghill

Our standards: Thomson Reuters Trust Principles.


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