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Helvetia's collective life business on a solid foundation - Number of active insured persons continues to rise

Helvetia Insurance's collective life business remains on a firm footing. In the context of a year-on-year financial market recovery, the business development was still characterized by the continued shift in the number of insured persons towards semi-autonomous solutions. Overall, the number of active insured persons increased by 8.5% during the year under review. On the other hand, the overall result in 2023 decreased by a total of CHF 7.9 million compared to the previous year.
30.05.2024 | Media releases
For the 2023 financial year, Helvetia reports a result of CHF 48.9 million for occupational benefits (2022: CHF 56.8 million). At the same time, in the year under review the surplus fund was increased further in the business subject to the minimum distribution ratio and currently amounts to CHF 175.9 million (previous year: CHF 162.5 million).  
Helvetia LOB Invest with assets under management of more than CHF 1 billion
The Helvetia LOB Invest collective foundation benefited from the continuing trend towards semi-autonomous solutions and achieved assets under management of over CHF 1 billion for the first time in 2023. The continued shift in the number of insured persons towards semi-autonomous solutions is also reflected in the fact that the number of all active insured persons at Helvetia increased by 8.5% in 2023 to 216,700 (2022: 199,708), whereas the number of persons with full-insurance coverage declined by 7.9% to 72,741 (2022: 78,947). Accordingly, operating expenses per active insured person declined from CHF 429 to CHF 420.  
Hedwig Ulmer, Head Pension Provisions and Member of Executive Management Switzerland at Helvetia, is committed to a broad diversification of the product range: "Helvetia offers a full range of occupational benefits solutions. Our customers can thus receive optimum service in line with their individual preferences and needs."   
Premium volume slightly lower year on year
The premium volume for Helvetia's occupational benefits business amounted to CHF 1,776.3 million, around 5.0% lower than in the previous year (2022: CHF 1,861.6 million). This trend is due primarily to the continued shift from full insurance to semi-autonomous solutions and the related decline in savings premiums. This decline in savings premiums was offset by a 7.7% increase in risk premiums in the year under review, while cost premiums declined by 0.3%.
Strong net performance and solid operating result
In 2023, the financial markets largely recovered from the challenges of the previous year. They benefited from a robust economy and the imminent end of the interest rate hike cycle. Net performance based on market values was a gratifying 5.9% in 2023. The return according to the Swiss Code of Obligations, which is relevant for the operating account, was burdened by a strongly negative currency result. The risk process, on the other hand, showed a very positive development. Anja Göing-Jaeschke, Head Actuarial Services Life Switzerland at Helvetia: "Helvetia also relies on stability and long-term solutions for occupational benefits schemes. Accordingly, we have focused on continuity in the surplus policy of recent years and can thus make our surplus participation sustainable."
Increased surplus participation in the business subject to the minimum distribution ratio
In its business subject to the minimum distribution ratio, Helvetia used a total of CHF 346.7 million to the benefit of insured persons in 2023, which equates to a payout ratio of 90.5% and diverges only marginally from the previous year's figure (2022: 90.7%).
The share in the surplus is slightly above that of the previous year. In business subject to the minimum distribution ratio, the balances were credited with an interest rate of 1.0%. In accordance with the regulations on the minimum distribution ratio, which relate to the distribution of surpluses, in 2023 both a risk surplus and the interest surplus were paid out.

Contact information

Philipp Schüpbach
Head of Investor Relations
Phone: +41 58 280 59 23


Eric Zeller
Senior Communication Manager / Media Spokesperson
Phone: +41 58 280 50 33