Buy Signal on Swiss Life Holding (SLHN-CH)
Swisslife is a CHF 13.2 Bn market cap and the leading Swiss life insurance company. Net earned premiums are primarily derived from life insurance (98%); while non-life insurance (2%) includes accident, home insurance. Further, the company engages in the private equity, information technology, real estate, banking, restaurant, and investment funds business. By geographies premiums are derived mainly from Switzerland (77%), France (17%) and Germany (7%).
In the first nine months of 2020, the Swiss Life Group posted fee income totalling CHF 1.4 Bn, an increase of 10% in local currency. The contribution from Swiss Life Asset Managers rose by 12%, from owned IFAs by 8% and from own and third-party products and services by 5%.
Swiss Life will resume the share buyback programme on 4 January 2021, which was temporarily suspended in March 2020. The Company said it is on track with its Group-wide programme "Swiss Life 2021" and confirms its financial targets.
Short term catalyst: Asset Management strong performance, share Buy-back.
This signal looks consistent with the Bullish momentum on the European Insurance sector.