Swiss Life posts premium income of CHF 12.8 billion in the first

Zurich, 13 November 2012

Swiss Life posts premium income of CHF 12.8 billion in the first nine months
of 2012

The Swiss Life Group recorded premium income of CHF 12.8 billion (+1% in local
currency) on 30 September 2012 and grew in strategically important business
areas. The Group achieved an excellent net investment return of 3.8% (not
annualised) in the first nine months of the year.

Bruno Pfister, Group CEO, comments, "We are satisfied with our business
development in the third quarter of 2012. We again expanded our market
position in strategically important business areas such as occupational
pensions business in Switzerland and health, death and disability insurance in
France."

Business development during the first nine months of 2012

In the first nine months of 2012 the Swiss Life Group generated CHF 12.8
billion in premium income, which corresponds to a 1% growth in local currency.
In the home market of Switzerland, premiums rose over the same period last
year (adjusted) by 2% to CHF 6.9 billion, primarily due to higher periodic
premiums in occupational pensions business. In France, premium income fell in
local currency by 2% to CHF 3.1 billion: Health, death and disability
insurance performed well and, although life insurance business declined, it
still significantly outperformed the French market as a whole. In Germany
Swiss Life experienced a 4% fall in premium income in local currency terms to
CHF 1.1 billion. This is largely attributable to a cautious bonus policy in
single premium business. Premiums in the Insurance International segment grew
by 3% in local currency terms over the first nine months of the year to CHF
1.7 billion. Despite an ongoing extremely challenging market environment, AWD
achieved sales revenue of EUR 340.2 million in the first three quarters of
2012 (-13%; Q1-Q3 2011: EUR 392.0 million).

Excellent investment result, Group solvency stays strong

The net investment result for the insurance portfolio developed very
positively despite the persistently low interest rate environment and volatile
market conditions. Between January and September 2012 the Group posted a
non-annualised net investment return of 3.8% (Q1-Q3 2011: 2.7%). The Group
solvency ratio was 238% on 30 September 2012 (224% on 30 June 2012).

Investors' Day on 28 November 2012 - today's telephone conference

The Swiss Life Group will present its new plans for the coming years at its
Investors' Day on 28 November 2012.

Thomas Buess, Group CFO, will hold a telephone conference in English for
financial analysts and investors at 10 a.m. (CET) today.

Please dial in ten minutes before the conference begins.

Dial-in number for Europe  +41 (0) 91 610 56 00
Dial-in number for the UK  +44 (0) 203 059 58 62
Dial-in number for the USA +1 (1) 866 291 41 66

Sales performance as at 30 September 2012

                  YTD 2012  YTD 2011  Change  Change
                                      (CHF)   (in local currency)
Gross written premiums, policy fees and deposits received in CHF m

IFRS basis, unaudited
Switzerland (1)   6 893     6 786     +2%     +2%
France            3 147     3 304     -5%     -2%
Germany           1 139     1 215     -6%     -4%
Insurance         1 712     1 666     +3%     +3%
International
Total (2)         12 827    12 862    0%      +1%
Sales revenues in EUR m

IFRS basis, unaudited
AWD               340.2     392.0             -13%

                  Q3 2012   Q3 2011   Change  Change
                                      (CHF)   (in local currency)
Gross written premiums, policy fees and deposits received in CHF m

IFRS basis, unaudited
Switzerland (1)   1 151     1 145     +1%     +1%
France            1 022     986       +4%     0%
Germany           333       346       -4%     -7%
Insurance         490       487       +1%     -2%
International
Total (3)         2 978     2 962     +1%     -1%
Sales revenues in EUR m

IFRS basis, unaudited
AWD               108.1     126.5             -15%

(1) Q3 2011: impact from change in the premium due dates following the
migration to

the new group business administration system (NVS): CHF -108 m.

(2): Total contains intersegment eliminations of CHF -65 m in YTD 2012, CHF
-140 m

in YTD 2011 and PPI of CHF 1 m in YTD 2012, CHF 31 m in YTD 2011.

(3): Total contains intersegment eliminations of CHF -20 m in Q3 2012, CHF -11
m

in Q3 2011, and PPI of CHF 0 m in Q3 2012, CHF 9 m in Q3 2011.

Contact

Media Relations

Phone +41 43 284 77 77

media.relations@swisslife.ch

Investor Relations

Phone +41 43 284 52 76

investor.relations@swisslife.ch

www.swisslife.com

Swiss Life

The Swiss Life Group is one of Europe's leading providers of life insurance
and pension solutions. In Switzerland, France and Germany, the Group offers
individuals and corporations comprehensive advice and a broad range of
products through its own sales force as well as brokers and banks. Swiss Life
provides international corporations with employee benefits solutions from a
single source, and is one of the global leaders in structured life and pension
products for international high net worth individuals.

The AWD Group has been part of the Swiss Life Group since 2008. Hanover-based
AWD is one of the leading European financial services providers in the medium
and high-income client segments and offers its clients comprehensive financial
advisory services. Germany, the UK, Austria and Switzerland are the AWD
Group's core markets.

Swiss Life Holding Ltd, registered in Zurich, was founded in 1857 as
Schweizerische Rentenanstalt. The shares of Swiss Life Holding Ltd are listed
on the SIX Swiss Exchange (SLHN). The Swiss Life Group employs a staff of
around 7500.

Cautionary statement regarding forward-looking information

This publication contains specific forward-looking statements, e.g. statements
including terms like "believe", "assume", "expect" or similar expressions.
Such forward-looking statements are subject to known and unknown risks,
uncertainties and other important factors which may result in a substantial
divergence between the actual results, financial situation, development,
performance or expectations of Swiss Life and those explicitly or implicitly
presumed in these statements. Against the background of these uncertainties,
readers are cautioned that these statements are only projections and that no
undue reliance should be placed on such forward-looking statements. Neither
Swiss Life nor any of its directors, officers, employees or advisors nor any
other person connected or otherwise associated with Swiss Life makes any
representation or warranty, express or implied, as to the accuracy or
completeness of the information contained in this publication. Neither Swiss
Life nor any of the aforementioned persons shall have any liability whatsoever
for loss howsoever arising, directly or indirectly, from any use of this
information. Furthermore, Swiss Life assumes no responsibility to publicly
update or alter its forward-looking statements or to adapt them, whether as a
result of new information, future events or developments or any other reason.

Media Release (PDF)

Provider                  Channel         Contact
Tensid Ltd., Switzerland  newsbox.ch      Provider/Channel related enquiries
www.tensid.ch             www.newsbox.ch  marco@tensid.ch
                                          +41 41 763 00 50