- Strong core business with good results despite persistently challenging conditions
Good technical result, with a net combined ratio of 87.9 per cent in the non-life business despite higher claims incurred and a smaller profit on claims reserves
- Market opportunities in group life business lead to a much higher volume of premiums
The withdrawal of a competitor from business involving comprehensive insurance solutions for occupational pensions resulted in additional premiums of around CHF 560 million. The partially autonomous collective foundation Perspectiva also continued to generate strong growth.
- Expansion of the ‘Home’ and ‘Mobility’ ecosystems; increase in the number of new customers
Besides the very good results in the core business, 2019 was also characterised by capital expenditure on the ‘Home’ and ‘Mobility’ ecosystems. In collaboration with Movu, laundry services provider Bubble Box and Devis.ch, a platform for the services of tradespeople, were integrated into the business model.
- Combination of banking and insurance meets customers’ needs: Another double-digit increase in the number of asset management mandates (23 per cent) and an excellent return on investment (over 26 per cent in portfolios with high equity exposures)
- Rise in profit to CHF 24.5 million thanks to significant expansion of brokerage business
- Encouraging growth in lending business, with credit risk costs remaining low
* All figures in accordance with IFRS accounting.
** All figures in accordance with local accounting standards.