By Joshua Kirby
Swiss Life Holding AG on Thursday set out its midterm plan targeting higher earnings and shareholder returns, as well as reductions in emissions from its operations and portfolio.
Marking its capital-markets 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 CHF600 million-CHF650 million estimated this year. The adjusted return on equity should rise to 10%-12% by the same year, from 8%-10% expected this year, Swiss Life said.
Shareholder returns should increase concurrently, with a dividend ratio of more than 60% from next year compared with 50%-60% in 2021. Swiss Life will also buy back shares of CHF1 billion between next month and May 2023.
The company is also its emissions-reduction targets, with carbon emissions per employee to be reduced by 35% by 2024 compared with 2019, largely through reducing travel and using only renewable energy. Swiss Life also aims to reduce average emissions in its real-estate portfolio by 20% by 2030.
Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby