EQS-Adhoc

'Swiss Life 2024': higher ambitions for the fee result, return on equity and payout ratio

EQS Group-Ad-hoc: Swiss Life Holding AG / Key word(s): Conference 'Swiss Life 2024': higher ambitions for the fee result, return on equity and payout ratio 25-Nov-2021 / 07:00 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. Zurich, 25 November 2021 Ad hoc announcement pursuant to Art. 53 LR

Swiss Life presents its new "Swiss Life 2024" Group-wide programme at today's Investor Day. The Group is increasing its ambitions in all relevant financial targets. It is focusing on deepening customer relationships, strengthening advisory power, expanding operational scalability and anchoring its sustainability strategy. Swiss Life is setting itself the following targets for the years 2022 to 2024:

• Increase in the fee result to CHF 850 to 900 million by 2024 ("Swiss Life 2021": CHF 600 to 650 million).
• Adjusted return on equity of 10 to 12 percent ("Swiss Life 2021": 8 to 10 percent). 
• Cumulative cash remittance to the holding company of CHF 2.8 to 3.0 billion from 2022 to 2024 ("Swiss Life 2021": CHF 2.0 to 2.25 billion). 
• Dividend payout ratio of over 60 percent from 2022 ("Swiss Life 2021": 50 to 60 percent).
• Target range for the SST ratio of 140 to 190 percent (unchanged). 
• CHF 1 billion share buyback programme from December 2021 to May 2023. 
• Sustainability strategy 2024 with reduction path regarding CO₂ emissions in directly held real estate portfolio and in operational ecology. 

"Swiss Life has successfully completed three consecutive Group-wide programmes since 2009. And we will also achieve or exceed our targets with the current 'Swiss Life 2021' programme. That is an outstanding track record and starting point for 'Swiss Life 2024'," says Patrick Frost, CEO of the Swiss Life Group. "Over the next three years, we will resolutely continue on our path and focus on deepening customer relationships, expanding our advisory organisations, operational scalability and anchoring our sustainability strategy. We will thus seize opportunities to grow profitably and substantially increase our financial targets."