Swiss Life Holding AG (SZLMY) Q3 2025 Sales Call Transcript
Swiss Life Holding AG (OTCPK:SZLMY) Q3 2025 Sales Call November 12, 2025 3:00 AM EST
Company Participants
Matthias Aellig – Group CEO & Member of Corporate Executive Board
Marco Gerussi – Group CFO & Member of Corporate Executive Board
Conference Call Participants
David Barma – BofA Securities, Research Division
Michael Huttner – Joh. Berenberg, Gossler & Co. KG, Research Division
Farooq Hanif – JPMorgan Chase & Co, Research Division
Thomas Bateman – Mediobanca – Banca di credito finanziario S.p.A., Research Division
Nasib Ahmed – UBS Investment Bank, Research Division
Presentation
Operator
Ladies and gentlemen, welcome to the Swiss Life Q3 2025 Trading Update Conference Call and Live Webcast. I am Sandra, the Chorus Call operator. [Operator Instructions] The conference is being recorded. [Operator Instructions].
At this time, it’s my pleasure to hand over to Matthias Aellig, Group CEO of Swiss Life. Please go ahead, sir.
Matthias Aellig
Group CEO & Member of Corporate Executive Board
Good morning, ladies and gentlemen. Thank you for dialing in and for your interest in Swiss Life. Today, we are reporting on selected top line figures for the first 9 months of 2025. I will provide an overview of today’s key messages; and our group CFO, Marco Gerussi, will give you more details.
The first 9 months of 2025, Swiss Life increased its fee and commission income by 3% in local currency to CHF 1.9 billion. Gross written premiums, fees and deposits received increased by 3% in local currency to CHF 16.3 billion. Direct investment income grew to CHF 3.1 billion, which corresponds to a non-annualized direct investment yield of 2.2%.
Swiss Life Asset Managers reported very strong net new asset inflows of CHF 15 billion in the third-party asset management compared to CHF 3.4 billion in the prior year period. The SST ratio was estimated to be around
