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Swiss Life H1 Profit Rises On Strong Premiums - Quick Facts

Insurer Swiss Life Group (SZLMY.PK,SLHN.VX) reported Tuesday that its first-half net profit attributable to equity holders increased to 615 million Swiss francs from 558 million francs last year.

Earnings per share were 18.42 francs, up from 16.35 francs a year ago.

Adjusted profit from operations grew 6% from the prior-year period to 846 million francs.

Total income increased to 14.82 billion francs from 11.66 billion francs last tear. Swiss Life posted premiums of 141 billion francs in the first six months of the year. The company said the extraordinary increase was due to the withdrawal of a competitor from the full insurance business in Switzerland.

Net earned premiums climbed to 11.33 billion francs from 7.94 billion francs a year ago.

Patrick Frost, CEO of the Swiss Life Group, said, "Swiss Life has made a good start to the new 'Swiss Life 2021' Group-wide programme and continued the positive development of recent years in the first half of 2019. ...We expect single premiums to return to a more normal level next year."

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