Full-year Results 2020
Covid-19 impacted savings and risk results
FY 2020 profit source development¹)
Savings result
- 13%
Risk result
- 1%
Fee result
+ 11%
Cost result
- 12%
Profit from
operations
- 5%
1) Adjusted as outlined on slide 9
10 | Investor presentation | Full-year results 2020
Covid-19-related market volatility led to lower savings result, primarily in
OCH and FR due to lower net investment result
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Covid-19 premium taxes and contributions in FR put pressure on the risk result
Positive development in CH and IN
No major Covid-19 impact
Strong increase at AM (focus on real assets) and in DE at owned IFAs
(increased advisor base and productivity); higher fee result also in CH and FR
No major Covid-19 impact
Strong new business growth with UL products in FR and DE
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