Swiss Life
 | |
| Type | Aktiengesellschaft |
|---|---|
| Traded as | SIX: SLHN |
| Industry | Financial services |
| Founded | 1857 |
| Headquarters | Zurich, Switzerland |
| Key people | Bruno Pfister (CEO), Rolf Dörig (Chairman) |
| Products | Life insurance, savings and pensions |
| Revenue | CHF 17.84 billion (2010)[1] |
| Operating income | CHF 694 million (2010)[1] |
| Profit | CHF 557 million (2010)[1] |
| AUM | CHF 133.0 billion (end 2010)[1] |
| Total assets | CHF 147.2 billion (end 2010)[1] |
| Total equity | CHF 7.437 billion (end 2010)[1] |
| Employees | 7,480 (FTE, end 2010)[1] |
| Website | www.swisslife.com |
The Swiss Life Group is the largest life insurance company of Switzerland. The firm is headquartered is in Zurich. The Swiss Life Group has 7,500 employees and had assets under management of approximately CHF 133 billion in 2010.
History
Foundation and growth
Conrad Widmer established Schweizerische Rentenanstalt in 1857 as the first life insurance company in Switzerland. Alfred Escher was integrally involved in the development of the cooperative. The goal of the company was to provide Swiss families a sufficiently solid foundation by providing insurance against the uncertainties of life. In 1866 Widmer obtained a license in Prussia. A year later, the annuity establishment had business operations in Hamburg and Bremen. The German branch split from the company. All of the policies were hand written in Zurich. Beginning in 1894, the establishment was one of the first insurance institutions to offer occupational insurance. Between 1866 and 1987, Rentenanstalt expanded to Germany, France, the Netherlands, Belgium, the United Kingdom, Spain, Luxembourg, and Italy. In 1988 it took over La Suisse insurance company in Lausanne.
Going corporate
In 1997 under the management of Martin Lopez, Rentenanstalt changed from a cooperative into a publicly traded company. In 1998 Rentenstalt/Swiss Life shares debuted on the SMI index. SwissLife then advanced on an expansionary strategy acquiring Livit, Banca del Gottardo, the Lloyd Continental and UTO Albis in 1999, Schweizerische Treuhandgesellschaft in 2000, a takeover of the real estate properties of Oscar Weber Holding AG in 2001. Finally in 2002, new acquisitions ceased as the company looked to restructure as many felt it was too big.
Restructuring
In 2003, the company changed its name to Swiss Life for all its operations except in the Netherlands where is remains under the old name Zwitser Leven. It sold its British operations to Resolution Life Group in December 2004.[2]
In November 2007, Swiss Life sold off Banca del Gottardo for 1.775 billion CHF.[3] On December 3, 2007, Swiss Life announced that it had launched a takeover bid of AWD Holding. On March 13, 2008, Swiss Life had successfully acquired a total of 86.2% of AWD.[4]
Products
Swiss Life offers for both individuals and corporations a variety of policies including disability insurance, accident insurance as well as annuity insurance and life insurance.
Sponsorship
Swiss Life is a sponsor of the Swiss National Football Team, the Zurich Chamber Orchestra, the Orchestre de la Suisse Romande. Additionally, Swiss Life is a partner of Circus Knie.
See also
- Insurance
- Insurance companies
- Swiss Life Arena
- Swiss Insurance Association
References
- ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 "Annual Report 2010" (PDF). Swiss Life. Retrieved 31 March 2011.
- ↑ Goellner, Philipp (9 December 2004). "Swiss Life to Sell U.K. Unit for 205 Million Pounds". Bloomberg. Retrieved 2009-03-01.
- ↑ Medienmitteilung von Swiss Life zum Verkauf der Banca del Gottardo
- ↑ Medienmitteilung Swiss Life, 19.03.2008 – Swiss Life hält 86,2% an AWD
External links
Coordinates: 47°21′46″N 8°32′03″E / 47.36278°N 8.53417°E
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