Swiss Life May Say First-Half Profit Increased on Higher Sales

Swiss Life Holding AG (SLHN), Switzerland’s biggest life insurer, may say first-half profit climbed 2.2 percent after premium income increased.

Net income probably rose to 367.9 million francs ($396 million), from 360 million francs a year earlier, according to the average estimate of seven analysts surveyed by Bloomberg. The company will report earnings tomorrow at 7 a.m. local time.

Swiss Life, led by Chief Executive Officer Bruno Pfister, announced cost cuts of much as 160 million francs in November and plans to eliminate as many as 400 jobs in Germany and Switzerland. The insurer also cut its targeted return on equity to between 8 percent and 10 percent over the next three years.

To contact the reporter on this story: Carolyn Bandel in Zurich at cbandel@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net

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