Helvetia is publishing its Financial Condition Report (FCR) for the 2019 financial year today. As at 1 January 2020, the Group has a strong SST ratio of 235%. This corresponds to an increase over the previous year of 13 percentage points (1 January 2019: 222%). Helvetia has benefited from market developments such as the strong performance on the equity markets and lower credit spreads. The good business results in 2019 also proved beneficial. Moreover, Helvetia generated positive effects through an improved business mix attributable to more profitable new business and the new tariff applicable to the Swiss group life business.
Capitalisation remains solid despite pandemic
Helvetia's capitalisation remains solid even in the current COVID-19 situation. The SST ratio declined to around 200% by mid-March owing to market trends, in particular the increase in credit spreads and lower share prices. The ratio has since improved somewhat and is now above 200%. This is due to increased hedging of equity positions and other positive effects. The SST ratio thus remains comfortably within the strategic target range of 180-240%.
The Financial Condition Report and the accompanying set of slides are available on the Helvetia website at www.helvetia.com/annual-results
This media release is also available on our website