Swiss Life: Life after near-death

Switzerland’s battered financial reputation has found an unlikely champion. Pint-sized Swiss Life has thumbed its nose at the subprime crisis which has rocked Swiss giants Credit Suisse and, in particular, UBS. The life insurer raised 2007 earnings by 43%, hiked its embedded value and more than doubled its dividend to boot. That’s some turnaround for a group which was itself on its knees not so long ago. Sure, the gleam in Swiss Life’s numbers is down in part to a coat of gloss. Strip out the be...