Swiss Life Holding AG (SLHN) Earnings Call Transcripts

Swiss Life Holding AG's Latest Earnings Call - Q1 FY2026

In the Q1 2026 earnings call, Swiss Life Holding AG reported strong top-line growth, with fee and commission income increasing by 6% to CHF 686 million and gross written premiums rising by 5% to CHF 8.2 billion. The company announced the acquisition of TELIS Group, expected to enhance its fee income significantly, contributing between EUR 25 million and EUR 30 million in 2025. Management maintained its guidance for the Swiss Life 2027 program, reaffirming the target of exceeding CHF 1 billion in fee results by 2027, indicating a solid trajectory for future growth.

Reported metrics

Guidance from management

Management maintained its guidance for the Swiss Life 2027 program, reaffirming the target of exceeding CHF 1 billion in fee results by 2027. The acquisition of TELIS is expected to contribute significantly to this goal starting in 2027.

What management said

So the cash at holding as of today is 1 billion, I think, is important to consider senior bond we issued in April, the EUR 500 million that Matthias just mentioned, which is for business purpose. So that's money for TELIS, so a large part, as Matthias said, but also then the remainder put at work in our operating company. So overall, no impact on the cash level at holding. And I think second point to make, which is a...

Look, I mean, this is pure speculation at this point in time. I mean, again, what I think is important that you can take with you is the statement I've made about the federal initiative mid-June. In Switzerland, there is a clear sense that we have the interest of maintaining Switzerland as an attractive business hub. And anyway, there will be pragmatic implementations of it anyway. So to that, let's say, level, I wou...

What analysts pressed on

Analysts expressed concerns regarding the sustainability of fee income growth and the impact of the declining investment income on overall profitability. There were also questions about the integration of TELIS and its effect on margins compared to existing operations.

Main topics on the call

• Strong Fee Income Growth — Swiss Life reported a 6% increase in fee and commission income to CHF 686 million, driven by contributions from all business divisions. CEO Matthias Aellig stated, "I'm particularly satisfied with the growth in our fee i...
• Acquisition of TELIS Group — The acquisition of TELIS Group is expected to strengthen Swiss Life's position in Germany, adding over EUR 200 million in fee income. Aellig noted, "With this transaction, we accelerate our profitable growth in the Germa...
• Investment Income Decline — Direct investment income decreased by CHF 142 million, attributed to lower income from equities and infrastructure. CFO Marco Gerussi mentioned, "The yield on the direct investment income... we expect to be at a similar ...
• SST Ratio Stability — The SST ratio was estimated at around 210%, slightly below the year-end 2025 level due to market movements. Gerussi stated, "This is due to market movements, which more than offset the positive impact from a hybrid issua...

Read the full Swiss Life Holding AG transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 28 Swiss Life Holding AG earnings call transcripts on record, spanning February 28, 2020 to May 21, 2026. Based on this history, Swiss Life Holding AG reports quarterly. The most recent call on file is dated May 21, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

SLHN

Exchange

SWX

Country

CH

Sector

Financials

Industry

Insurance

Calls on record

28

First call

February 28, 2020

Most recent

May 21, 2026

Reporting cadence

quarterly