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Swiss Life ups dividend as FY'17 profit rises

Swiss Life Holding AG reported unaudited net profit attributable to equity holders of the company of CHF1.01 billion for full year 2017, up from CHF922 million in 2016.

Net earned premiums fell on a yearly basis to CHF12.79 billion from CHF13.23 billion. Net earned policy fees rose over the same period to CHF313 million from CHF280 million.

Net insurance benefits and claims declined to CHF13.19 billion in 2017 from CHF14.06 billion a year earlier.

Swiss Life said new business margin increased to 2.5% in 2017 from 2.1% in 2016 "due to disciplined margin management and a further improvement in the new business mix." The value of new business rose 18% to CHF351 million from CHF296 million.

Swiss Life Asset Managers generated net new assets of CHF7.1 billion, taking third-party AUM to CHF61.4 billion at 2017-end, up 24% from a year earlier.

The company's board of directors will propose at the April 24 annual general meeting to increase the dividend to CHF13.50 per share from the CHF11.00 per share paid in 2016.

Swiss Life added that Gerold Bührer will resign from the board at the AGM, having reached the statutory age limit. Martin Schmid will be proposed to the shareholders for election.