By Kim Richters
Swiss Life Holding AG said Thursday that net profit for the first half of the year declined.
The Swiss financial-services company said net profit for the six months was 533 million Swiss francs ($584.4 million), down from CHF615 million a year earlier.
The decline was partly due to a positive one-off tax effect that contributed to the results in the year-earlier period, it said.
Adjusted profit from operations fell 6% to CHF780 million and fee income rose 10% in local currency to CHF916 million.
The company confirmed its financial targets related to its "Swiss Life 2021" plan.
Write to Kim Richters at kim.richters@wsj.com
