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Aug. 13, 2020, 2:38 a.m. EDT

Swiss Life profit falls

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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

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