(This story has been corrected to change the currency to Swiss francs, not euro, in paragraph 3)
By Tristan Veyet
(Reuters) -Swiss Life’s fee income and premiums grew in the first quarter of 2025 supported by its asset management business and good performances of its own and third-party insurance products, it said on Thursday.
Switzerland’s largest life insurance provider and a major owner of real estate in Europe said its fee income was 659 million Swiss francs ($790 million) in the January-March quarter, up 3% from last year on a local currency basis.
Its quarterly premiums rose 6% on the same basis to 7.9 billion euros, led by an 11% rise in France.
The company’s main market is Switzerland, which made up more than half of its premiums in the first three months of the year, followed by France which generated around a quarter of them.
“Given that the shares are (one of) the most expensive insurance stocks in Europe … the company needs to deliver and beat expectations continuously – that’s what they did,” Vontobel analysts said in a note.
However, the shares were seen down around 1% in Julius Baer premarket indications as of 0622 GMT.
Swiss Life’s results echoed those from peer Zurich Insurance which earlier in May reported higher first-quarter revenue and gross written premiums in its core property and casualty business.
($1 = 0.8342 Swiss francs)
(Reporting by Tristan Veyet in Gdansk, editing by Milla Nissi-Prussak)
