Page 1

Media release Zurich , 17 August 2021 Ad hoc announcement pursuant to Art . 53 LR Swiss Life Swiss Life increases its fee result by 14 % and profit from operations by 13 % in the first half of 2021 Swiss Life reports adjusted profit from operations of CHF 889 million for the first half of 2021 , an increase of 13 % over the previous year . Net profit rose by 15 % to CHF 618 million ; the adjusted return on equity was 11.3 % ( previous year : 10.2 % ) . Swiss Life achieved fee income in local currency of CHF 1081 million ( + 15 % ) . The fee result increased by 14 % to CHF 309 million . Premiums came to CHF 10.9 billion . The 7 % decline in local currency is primarily attributable to the full insurance business in Switzerland ; while the semi - autonomous business , which is largely not reported as premiums , was by contrast expanded further . Direct investment income came to CHF 1.97 billion ( previous year : CHF 2.03 billion ) . The non - annualised direct investment yield was 1.1 % ( previous year : 1.2 % ) , the net investment yield on a non - annualised basis was 1.3 % ( previous year : 1.1 % ) . Swiss Life Asset Managers posted net new assets of CHF 4.6 billion in TPAM business . As at the end of June 2021 , TPAM assets under management amounted to CHF 98.9 billion ( year - end 2020 : CHF 91.6 billion ) . The value of new business totalled CHF 252 million ( + 24 % ) . The new business margin rose to 3.1 % ( previous year : 2.1 % ) . The cash remittance to the holding company increased by 7 % to CHF 798 million . Swiss Life estimates its SST ratio at around 205 % as of 30 June 2021 . Swiss Life is making very good progress with its " Swiss Life 2021 " Group - wide programme and confirms its financial targets . " We achieved a strong result in the first half of 2021 , " says Patrick Frost , CEO of the Swiss Life Group . " We succeeded in raising the fee result in all divisions and increasing the cash remittance to the holding company and the profit from operations . We were thus able to significantly improve Swiss Life media release 17 August 2021 1/5