Operating result up notably by over 26% in Helvetia’s group life business
The group life business of Helvetia Insurance continues to rest on solid foundations. Total comprehensive income from occupational pensions amounted to CHF 61.9 million as at 31 December 2024, representing a rise of 26.5% over the previous year. Compared to the difficult investment year of 2023, there was a marked increase in capital income in 2024. Business Development continues to be shaped by the ongoing shift in the number of insured persons towards semi-autonomous solutions. Overall, the number of actively insured persons increased by 3.6% during the reporting year, while the number of fully insured persons fell by 7.9%.
22.05.2025 | Media releases
For the 2024 financial year, Helvetia reported an occupational pension result of CHF 61.9 million, equating to an increase of 26.5% over the previous year (2023: CHF 48.9 million). Due to an increased allocation to policyholders, the profit fund in the business subject to the minimum quota decreased slightly. This currently amounts to CHF 167.5 million (previous year: CHF 175.9 million).
Hedwig Ulmer, Head of Pension Provision and Member of the Executive Board in Switzerland, looks back on a positive financial year for 2024: "The available figures serve as proof that Helvetia can provide tailor-made solutions to meet all needs in the area of pensions. Furthermore, the broad range of products allows us to offset certain market developments in a targeted manner."
Ongoing shift towards semi-autonomous solutions
The ongoing shift in the number of insured persons towards semi-autonomous solutions is also reflected in the fact that the number of people actively insured with Helvetia increased by 3.6% to 224,574 in 2024 (2023: 216,700), while the number of persons with full insurance fell by 7.9% to 67,000 (2023: 72,741). Overall, operating expenses per active person covered remained virtually stable at CHF 426.00 (CHF 420.00).
The collective foundation Helvetia LOB Invest likewise benefited from the ongoing trend towards semi-autonomous solutions; it reported assets under management of more than CHF 1 billion for the first time in 2023. At the end of 2024, the foundation had 15,515 active insured persons, an increase of 18.9% compared to the same period the previous year.
Helvetia is now unquestionably the number two in the national group life business
In its occupational benefits business, Helvetia recorded a premium volume of CHF 1,828.0 million, 2.9% higher than the previous year (2023: CHF 1,776.3 million). Despite the shift from full insurance to semi-autonomous (i.e. no savings premiums being booked), the regular premiums fell by only 0.61% overall. Risk and cost premiums managed to increase by 5.5%. According to the Swiss Insurance Association (SIA), Helvetia was ranked second in Switzerland for both regular premiums and single premiums for the first time as part of a group life market comparison.
A significant increase in investment income
In 2024, the financial markets largely recovered from the challenges of the previous year. They benefited from a robust economy and the imminent end of the cycle of interest rate hikes. Due to this much more positive economic environment, the net yield increased to 1.9%. The net performance based on market values was 4.6% (2023: 5.9%).
However, the risk result fell in 2024. Anja Göing-Jaeschke, Head of Actuarial Services Life Switzerland at Helvetia, states: "Helvetia, too, has been unable to escape Switzerland’s nationwide increase in the awarding of pensions due, for example, to mental illness. We will continue to monitor this development very closely.
Participation in profits in transactions subject to the minimum quota
In 2024, Helvetia used CHF 478.1 million for the benefit of policyholders in the business subject to the minimum quota. This corresponds to a pay-out ratio of 90.6%, which is only a marginal change from the previous year’s figure (2023: 90.5%).
Participation in profits for 2024 is significantly higher than the previous year. In the business subject to the minimum quota, an interest rate of 1.25% was credited to compulsory savings, while a rate of 1.5% was applied to savings in excess of the statutory requirement minimum. In accordance with the provisions on the minimum quota regarding the distribution of surpluses, a risk surplus was paid out in addition to the interest surplus for 2024.
Hedwig Ulmer, Head of Pension Provision and Member of the Executive Board in Switzerland, looks back on a positive financial year for 2024: "The available figures serve as proof that Helvetia can provide tailor-made solutions to meet all needs in the area of pensions. Furthermore, the broad range of products allows us to offset certain market developments in a targeted manner."
Ongoing shift towards semi-autonomous solutions
The ongoing shift in the number of insured persons towards semi-autonomous solutions is also reflected in the fact that the number of people actively insured with Helvetia increased by 3.6% to 224,574 in 2024 (2023: 216,700), while the number of persons with full insurance fell by 7.9% to 67,000 (2023: 72,741). Overall, operating expenses per active person covered remained virtually stable at CHF 426.00 (CHF 420.00).
The collective foundation Helvetia LOB Invest likewise benefited from the ongoing trend towards semi-autonomous solutions; it reported assets under management of more than CHF 1 billion for the first time in 2023. At the end of 2024, the foundation had 15,515 active insured persons, an increase of 18.9% compared to the same period the previous year.
Helvetia is now unquestionably the number two in the national group life business
In its occupational benefits business, Helvetia recorded a premium volume of CHF 1,828.0 million, 2.9% higher than the previous year (2023: CHF 1,776.3 million). Despite the shift from full insurance to semi-autonomous (i.e. no savings premiums being booked), the regular premiums fell by only 0.61% overall. Risk and cost premiums managed to increase by 5.5%. According to the Swiss Insurance Association (SIA), Helvetia was ranked second in Switzerland for both regular premiums and single premiums for the first time as part of a group life market comparison.
A significant increase in investment income
In 2024, the financial markets largely recovered from the challenges of the previous year. They benefited from a robust economy and the imminent end of the cycle of interest rate hikes. Due to this much more positive economic environment, the net yield increased to 1.9%. The net performance based on market values was 4.6% (2023: 5.9%).
However, the risk result fell in 2024. Anja Göing-Jaeschke, Head of Actuarial Services Life Switzerland at Helvetia, states: "Helvetia, too, has been unable to escape Switzerland’s nationwide increase in the awarding of pensions due, for example, to mental illness. We will continue to monitor this development very closely.
Participation in profits in transactions subject to the minimum quota
In 2024, Helvetia used CHF 478.1 million for the benefit of policyholders in the business subject to the minimum quota. This corresponds to a pay-out ratio of 90.6%, which is only a marginal change from the previous year’s figure (2023: 90.5%).
Participation in profits for 2024 is significantly higher than the previous year. In the business subject to the minimum quota, an interest rate of 1.25% was credited to compulsory savings, while a rate of 1.5% was applied to savings in excess of the statutory requirement minimum. In accordance with the provisions on the minimum quota regarding the distribution of surpluses, a risk surplus was paid out in addition to the interest surplus for 2024.
Contact information
Analysts
Peter Eliot
Head of Investor Relations
Phone: +41 58 280 59 19
investor.relations@helvetia.ch
Peter Eliot
Head of Investor Relations
Phone: +41 58 280 59 19
investor.relations@helvetia.ch
Media
Eric Zeller
Senior Communication Manager / Press Spokesperson
Phone: +41 58 280 50 33
media.relations@helvetia.ch
Eric Zeller
Senior Communication Manager / Press Spokesperson
Phone: +41 58 280 50 33
media.relations@helvetia.ch