Swiss Life hives off asset management

Switzerland's leading life insurer, Swiss Life, has hived off a major portion of its asset management by founding Swiss Life Asset Management. The new company is responsible for an investment volume of about SFr100 billion.

Switzerland’s leading life insurer, Swiss Life, has hived off a major portion of its asset management by founding Swiss Life Asset Management.

The new company is responsible for an investment volume of about SFr100 billion and manages assets for institutional investors, company-own investment funds and group-own companies.

The move follows a strategic reorientation at the end of 1998 when Swiss Life announced it was expanding its focus on offering a comprehensive range of financial services. The aim was to be a leading independent provider of attractive solutions, particularly in Europe, in the areas of long-term savings and protection, with competencies in asset management and risk management.

A statement from Zurich said the group’s volume of assets under management increased over the past year by 60 per cent to SFr180 billion, ranking Swiss Life among the top European asset managers.

In its initial phase, the investment portfolio of around SFr100 billion is to be managed by around 100 staff.

“Swiss Life Asset Management is supported by a clearly structured, consistent and transparent investment process in order to ensure the long-term above-average performance of the assets entrusted to the company,” the statement added.

From staff and wire reports