Stock Analysis Report

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Executive Summary

Swiss Life Holding AG provides life insurance, risk, pensions, and financial solutions for private and corporate clients. More Details

Snowflake Analysis

6 star dividend payer with excellent balance sheet.

Similar Companies

Share Price & News

How has Swiss Life Holding's share price performed over time and what events caused price changes?

Latest Share Price and Events

Stable Share Price: SLHNE has not had significant price volatility in the past 3 months.

Market Performance

7 Day Return




CH Insurance


CH Market

1 Year Return




CH Insurance


CH Market

Return vs Industry: SLHNE underperformed the Swiss Insurance industry which returned -23.1% over the past year.

Return vs Market: SLHNE underperformed the Swiss Market which returned 2.2% over the past year.

Shareholder returns

7 Day0%-1.7%-0.9%
30 Day0%-6.3%0.6%
90 Day0%-4.0%2.4%
1 Year-37.7%-37.7%-18.9%-23.9%6.2%2.7%
3 Yearn/a12.6%-4.7%18.2%3.9%
5 Yearn/a47.7%11.4%37.7%14.8%

Price Volatility Vs. Market

How volatile is Swiss Life Holding's share price compared to the market and industry in the last 5 years?

Simply Wall St News

No news available


Is Swiss Life Holding undervalued compared to its fair value and its price relative to the market?


Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: SLHNE (CHF296.4) is trading below our estimate of fair value (CHF709.83)

Significantly Below Fair Value: SLHNE is trading below fair value by more than 20%.

Price To Earnings Ratio

PE vs Industry: SLHNE is good value based on its PE Ratio (9.9x) compared to the CH Insurance industry average (13.1x).

PE vs Market: SLHNE is good value based on its PE Ratio (9.9x) compared to the Swiss market (22.5x).

Price to Earnings Growth Ratio

PEG Ratio: SLHNE is poor value based on its PEG Ratio (1.3x)

Price to Book Ratio

PB vs Industry: SLHNE's PB Ratio (0.7x) is in line with the CH Insurance industry average.

Next Steps

Future Growth

How is Swiss Life Holding forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: SLHNE's forecast earnings growth (7.7% per year) is above the savings rate (-0.2%).

Earnings vs Market: SLHNE's earnings (7.7% per year) are forecast to grow slower than the Swiss market (11.2% per year).

High Growth Earnings: SLHNE's earnings are forecast to grow, but not significantly.

Revenue vs Market: SLHNE's revenue (5.2% per year) is forecast to grow faster than the Swiss market (4.6% per year).

High Growth Revenue: SLHNE's revenue (5.2% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: SLHNE's Return on Equity is forecast to be low in 3 years time (9.6%).

Next Steps

Past Performance

How has Swiss Life Holding performed over the past 5 years?


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: SLHNE has high quality earnings.

Growing Profit Margin: SLHNE's current net profit margins (5.2%) are higher than last year (4.9%).

Past Earnings Growth Analysis

Earnings Trend: SLHNE's earnings have grown by 7.4% per year over the past 5 years.

Accelerating Growth: SLHNE's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: SLHNE had negative earnings growth (-1.4%) over the past year, making it difficult to compare to the Insurance industry average (-17.1%).

Return on Equity

High ROE: SLHNE's Return on Equity (7.2%) is considered low.

Next Steps

Financial Health

How is Swiss Life Holding's financial position?

Financial Position Analysis

Short Term Liabilities: SLHNE's short term assets (CHF59.4B) exceed its short term liabilities (CHF7.6B).

Long Term Liabilities: SLHNE's short term assets (CHF59.4B) do not cover its long term liabilities (CHF205.3B).

Debt to Equity History and Analysis

Debt Level: SLHNE's debt to equity ratio (30.3%) is considered satisfactory.

Reducing Debt: SLHNE's debt to equity ratio has reduced from 42.7% to 30.3% over the past 5 years.

Debt Coverage: SLHNE's debt is well covered by operating cash flow (53%).

Interest Coverage: SLHNE's interest payments on its debt are well covered by EBIT (6.2x coverage).

Balance Sheet

Next Steps


What is Swiss Life Holding current dividend yield, its reliability and sustainability?


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: SLHNE's dividend (5.77%) is higher than the bottom 25% of dividend payers in the Swiss market (1.93%).

High Dividend: SLHNE's dividend (5.77%) is in the top 25% of dividend payers in the Swiss market (3.7%)

Stability and Growth of Payments

Stable Dividend: SLHNE's dividends per share have been stable in the past 10 years.

Growing Dividend: SLHNE's dividend payments have increased over the past 10 years.

Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (57.3%), SLHNE's dividend payments are covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: SLHNE's dividends in 3 years are forecast to be covered by earnings (58.1% payout ratio).

Next Steps


How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


Patrick Frost (52 yo)





Dr. Patrick Frost serves as the Group Chief Executive Officer at Swiss Life (Singapore) Pte. Ltd. Dr. Frost serves as Independent Non Executive Director at Roche Holding AG since March 2020. Dr. Frost has ...

CEO Compensation Analysis

Compensation vs Market: Patrick's total compensation ($USD4.62M) is about average for companies of similar size in the Swiss market ($USD6.29M).

Compensation vs Earnings: Patrick's compensation has been consistent with company performance over the past year.

Leadership Team

Patrick Frost
Group CEO & Chairman of the Corporate Executive Board6.17yrsCHF4.26m0.073%
CHF 7.7m
Matthias Aellig
Group CFO & Member of Executive Board1.5yrsno data0.0087%
CHF 910.0k
Charles Relecom
CEO of France & Member of the Corporate Executive Board12.17yrsno data0.0054%
CHF 570.6k
Markus Leibundgut
CEO of Switzerland & Member of the Corporate Executive Board6.42yrsno data0.019%
CHF 2.0m
Nils Frowein
CEO of International & Member of the Corporate Executive Board5.67yrsno data0.0066%
CHF 696.7k
Stefan Mächler
Group Chief Investment Officer & Member of the Corporate Executive Board6yrsno data0.016%
CHF 1.7m
Jörg Arnold
CEO of Germany & Member of the Corporate Executive Board3.17yrsno data0.00083%
CHF 87.2k
Rudolf Keller
Head of Corporate Finance and M&A10.67yrsno datano data
Heidi Hinterhuber
Head of Investor Relationsno datano datano data
Robert Moser
Head of Group Controlling5.67yrsno datano data
José Blanco
Head of Investment Management for Third-Party Asset Management - Swiss Life Asset Managers2.25yrsno datano data


Average Tenure


Average Age

Experienced Management: SLHNE's management team is seasoned and experienced (5.8 years average tenure).

Board Members

Rolf Dörig
Chairman of the Board11.33yrsCHF1.20m0.10%
CHF 10.8m
Ueli Dietiker
CHF 401.4k
Thomas Buess
CHF 8.4m
Frank Keuper
CHF 352.0k
Adrienne Fumagalli
CHF 275.3k
Frank Schnewlin
Independent Vice Chairman of the Board11.33yrsCHF350.29k0.019%
CHF 2.0m
Henry Peter
Independent Director14.33yrsCHF197.26k0.041%
CHF 4.3m
Franziska A. Sauber
Independent Director17.33yrsCHF140.21k0.011%
CHF 1.1m
Stefan Loacker
CHF 294.2k
Klaus Tschütscher
Independent Director7.42yrsCHF160.51k0.0034%
CHF 359.4k
Martin Schmid
CHF 129.3k
Damir Filipovic
CHF 616.9k


Average Tenure


Average Age

Experienced Board: SLHNE's board of directors are considered experienced (7.4 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Company Information

Swiss Life Holding AG's company bio, employee growth, exchange listings and data sources

Key Information

  • Name: Swiss Life Holding AG
  • Ticker: SLHNE
  • Exchange: SWX
  • Founded: 1857
  • Industry: Life and Health Insurance
  • Sector: Insurance
  • Market Cap: CHF10.509b
  • Shares outstanding: 30.29m
  • Website: https://www.swisslife.com

Number of Employees


  • Swiss Life Holding AG
  • General-Guisan-Quai 40
  • PO Box 2831
  • Zurich
  • Zurich
  • 8022
  • Switzerland


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SWSD.FOTCPK (Pink Sheets LLC)YesRegistered SharesUSUSDJul 1997
SLHNSWX (SIX Swiss Exchange)YesRegistered SharesCHCHFJul 1997
0QMGLSE (London Stock Exchange)YesRegistered SharesGBCHFJul 1997
SLWDB (Deutsche Boerse AG)YesRegistered SharesDEEURJul 1997


Swiss Life Holding AG provides life insurance, risk, pensions, and financial solutions for private and corporate clients. It operates through Switzerland, France, Germany, International and Asset Managers ...

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/09/29 21:55
End of Day Share Price2020/09/28 00:00
Annual Earnings2019/12/31

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.