Swiss Life shares fall, in-line FY results not convincing

** Shares in Swiss Life SLHN are seen falling 1.9% in Julius Baer premarket trade, with analysts saying the in-line FY results are solid but not convincing, given the high valuation of the stock

** "Swiss Life has delivered solid results," Vontobel ("hold") writes, however highlighting the firm's price to earnings ratio estimated at 17x in 2026, adding that Swiss Life needs to beat expectations more strongly

** Switzerland's largest life insurance provider reported a net fee result of 875 million Swiss francs ($990 million) for the year, compared with a result of 658 million francs in 2023

** "In-line results overall," J.P. Morgan says, adding that it would question the sustainability of the insurance result given a lower Contractual Service Margin (CSM) and CSM release than expecteded

** Swiss Life's stock falls to the bottom of Switzerland's blue-chip index in Julius Baer premarket trade SMI

($1 = 0.8838 Swiss francs)