Swiss Life Reaches Resolution With US Department Of Justice

Swiss Life said Friday it has reached a resolution with the United States Department of Justice (DOJ) concerning the DOJ’s inquiry into the legacy business with U.S. clients that had been announced in September 2017. The resolution is in the form of a Deferred Prosecution Agreement (DPA) with a three-year term.

We note that the financial payments required as part of this resolution are in line with the provision of CHF 70 million charged against the 2020 results as announced on March 2, 2021.

Swiss Life is now focused on fulfilling the requirements under the resolution and successfully concluding the DPA.