2024-04-04 21:01:46
This content was published on April 4, 2024 – 3:00 p.m.
(Keystone-ATS) La Mobilière earned a consolidated profit of 384 million francs last year, up almost a quarter in twelve months. Business progress was positive and the recovery of the stock markets supported performance, the Bernese insurer said on Thursday.
The investment result generated 241.4 million francs, an increase of almost a third over one year, driven by “a solid economy and the recovery of the financial markets”, according to the press release.
Premium revenue increased by 5.0% to 4.77 billion francs, driven by both business segments. Life insurance totaled a volume of premiums up 6.4% to 1.02 billion. Private pensions experienced solid growth, as did professional pensions.
The increase in the volume of premiums was 4.6% for non-life activities at 3.75 billion. La Mobilière claims to hold 20.4% of this market.
Insured losses totaled 147 million for non-life activities due to bad weather in the summer. In household contents insurance, La Mobilière reports increasing damage due to a sharp increase in thefts, particularly of bicycles. The combined ratio improved to 92.8%, from 93.5%.
As a cooperative company, La Mobilière intends to redistribute part of the profit to its policyholders through lower premiums in non-life activities. Thus, motor and commercial insurance customers will see the amount of premiums decrease by 10% between July 2024 and June 2025, while travel insurance holders will see their bill decrease by 20%. This will make it possible to redistribute 189 million to policyholders, following 195 million for 2022.
Consolidated equity stood at 6.23 billion, up 5.9%. The return on invested capital rose to 6.3%.
The number of full-time equivalent employees increased by 3.7% to 5,747 positions.
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