elipsLife’s 2020 financial year was characterised by ongoing change and further strong premium growth. The earned premium volume increased by 18%, from USD 1,157.5 million to USD 1,368.6 million. In the Group Life & Health business, the company was able to increase the premium volume by 32% (from USD 472.0 million to USD 621.6 million). Nevertheless, a loss of USD 88.0 million resulted from additional reservations due to the COVID-19 pandemic, investments in market development and restructuring costs.
However, with completion of the 2020 financial year, elipsLife laid a solid foundation for further qualitative growth and expansion into new markets. The year under review was marked by a final farewell to the start-up mentality, and represented the first step towards a financial turnaround. This solid foundation and the strong backing of the Swiss Re Group make elipsLife a reliable partner for its clients.