The AXA collective foundations continue to develop successfully and outperformed the market last year: The number of insured persons increased to over 344,000, and premium volume rose to CHF 735 million. This enabled AXA to further consolidate its market leadership in the semi-autonomous business.
AXA’s semi-autonomous collective foundations in occupational pensions continue to perform successfully in the market. With a 3.9 percent increase in risk and cost premiums to a total of CHF 735 million, AXA once again outperformed the market. Since 2019, the number of insured persons has increased by an average of 6.2 percent per year. Overall, the number of insured persons in AXA’s collective foundation business rose to over 344,000. AXA has thus further consolidated its market position. Including the reinsurance of autonomous funds, almost one in ten employees in Switzerland is insured with AXA, with over 434,000 insured persons.
Jürgen Scharfetter, Head of Occupational Pensions:
“The semi-autonomous AXA collective foundations are characterized by their excellent structural risk capacity, which forms a strong foundation for sustainably attractive retirement provision. In close cooperation with the collective foundations, AXA has expanded its range of services to reflect changing social developments and offer its current policyholders, as well as future generations, a long-term, stable and attractive pension plan.”
Over the past six years (2019–2024), the insured’s retirement savings were distributed to them with an additional interest rate of CHF 2.9 billion over the BVG minimum. At the same time, the collective foundations strengthened their fluctuation reserves, particularly last year, thus consolidating their long-term financial security.
Stable operating result
Operating profit before taxes remained constant at CHF 88 million in 2024 compared to the previous year. In the business subject to the minimum quota, CHF 797 million accrued to policyholders in the form of insurance benefits, reserve reinforcements, and allocations to the surplus fund. The payout ratio was thus 90.5 percent. Costs per actively insured person decreased by 7.4 percent to CHF 374 thanks to consistent efficiency efforts.
Risk benefits in the area of disability continue to increase
The situation regarding risk benefits has further worsened this year. The trend toward more disability cases, which has been evident for several years, continued in 2024, a significant portion of which was due to mental illnesses. The reintegration of those affected into the labor market is becoming increasingly challenging. At the AXA collective foundations, 44 percent of the provisions for new disability claims, or over CHF 190 million, must now be set aside for mental illnesses.
Jürgen Scharfetter, Head of Occupational Pensions:
“We have observed a significant increase in disability insurance cases in recent years. Mental health-related illnesses, in particular, have increased sharply over the past year, affecting all genders and age groups equally. Preventive measures and the intensification of reintegration programs, such as our WeCare program, will therefore become increasingly important in the future.”
Long-term stability thanks to broad diversification
As an insurance and asset manager, AXA has many years of expertise in investing premiums and pension funds securely and profitably. 2024 was a strong investment year with good market performance and solid economic development. AXA collective foundations achieved returns of up to 7.5 percent in 2024. Last year, AXA increased assets managed for third-party clients by 12 percent to CHF 52.3 billion.
Daniel Gussmann, Chief Investment Officer:
“Our asset management pursues a risk-conscious investment approach while simultaneously focusing on high-yield investments. This enables us to generate attractive returns even in a challenging market environment. Thanks to their broadly diversified portfolios, the AXA collective foundations will continue to be stable in the future and offer an optimal balance between return opportunities and security.”
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