By Joshua Kirby
Swiss Life Holding AG on Thursday laid out its mid-term plan targeting emissions reductions from its operations and portfolio, along with higher earnings and shareholder returns.
Marking its capital-market day, the Swiss insurer is targeting an increase in its fee result to between 850 million-900 million Swiss francs ($910 million-$964 million) by 2024 from an estimated CHF600 million-CHF650 million this year. Swiss Life said the adjusted return on equity should rise to 10%-12% in the same year, from 8%-10% this year.
Shareholder returns should grow concurrently, with a dividend ratio of over 60% from next year onwards, compared to 50%-60% in 2021. Swiss Life will also buy back CHF1 billion shares between next month and May 2023.
The company also has its emissions reduction target, reducing carbon emissions per employee by 35% by 2024 compared to 2019, primarily by reducing travel and using only renewable energy. Swiss Life aims to reduce the average emissions in its real-estate portfolio by 20% by 2030.
Write to Joshua Kirby at [email protected]; @joshualeokirby