Swiss Life reports 44 percent jump in first quarter premiums

ZURICH (Reuters) - Swiss Life reported a 44 percent increase in premiums in the first quarter, helped by the withdrawal of a competitor in Switzerland that boosted demand for full insurance solutions.

Premiums rose to 9.9 billion Swiss francs (7.4 billion pounds), with premiums in Switzerland up by more than two thirds, Switzerland’s biggest life insurer said in a statement on Thursday.

Fee income rose by 11 percent in local currency to 429 million francs in the first quarter, Swiss Life said.