Swiss Life Dividend Beats Estimates as Full-Year Profit Risesby
Swiss Life Holding AG, Switzerland’s biggest life insurer, plans to pay dividend above estimates after higher fee income lifted full-year profit by 7 percent.
Swiss Life proposed a payout of 8.5 francs a share for 2015, up from 6.50 francs a year earlier, the company said in a statement Tuesday. That beat the Bloomberg Dividend Forecast of 8 francs. Net income increased to 878 million Swiss francs ($880 million), compared with an 824 million-franc average estimate of 14 analysts surveyed by Bloomberg.
The Zurich-based insurer, headed by Chief Executive Officer Patrick Frost, said in November that it planned to pay a dividend of at least 8 Swiss francs for 2015 and intends to distribute 30 percent to 50 percent of profit in dividends after years of payouts that trailed its peers.