Strong earnings despite the challenges facing the healthcare system

Groupe Mutuel ended 2024 with strong earnings of CHF 29 million, allowing it to look to the future with greater peace of mind and to meet the many challenges facing the healthcare system.  Despite a loss of 77,000 insured persons in basic insurance, for an average gain of 50,000 customers over three years, Groupe Mutuel reported growth in all other business areas.

Growth for all lines of business except for basic insurance

“Overall, Groupe Mutuel's financial results for 2024 are positive”, said Karin Perraudin, President of the Board of Groupe Mutuel. “Thanks to these strong results, we have some breathing space to tackle the challenges ahead. These include, in particular, our healthcare system, which is suffering from uncontrolled cost increases and a lack of vision and political action.”

Groupe Mutuel returned to profitability in 2024 with earnings of around CHF 29 million. “This goal, which is essential to the company's long-term sustainability, was not achieved without effort”, said Ms Perraudin. While basic insurance continues to show negative results, private insurance has generated a solid profit. As for investments, these contributed significantly to the sound financial results, with a return of 7.8% for 2024.

“After very strong periods of growth in 2022 and 2023, we underwent a rebalancing of our business and lost 77,000 insured persons in basic insurance in 2024. Over the last three years, we have gained more than 50,000 new policyholders, which remains a very good result”, said Thomas Boyer, CEO of Groupe Mutuel. “The loss of insured persons in 2024 was expected, as we knew that our premium increases and the merger of two of our health insurance companies into other structures were needed to increase our solvency in the compulsory health insurance sector. We have achieved our goal. Our financial situation is now more comfortable and allows us to look to the future with greater peace of mind “, said the CEO.

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Key figures 2024

Groupe Mutuel Holding SA

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The company's consolidated earnings in CHF.

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Reduction in the number of AOS/OKP clients (+ 63,000 in 2023).
Average gain of 50,000 insureds over the last three years.

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Number of corporate customers (29,500 in 2023).

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Number of private customers (1,420,000 in 2023).

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Collected premiums/turnover.
Consolidated figures in CHF thousand (5,854,000 in 2023)

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Insurance benefits.
Consolidated figures in CHF thousand (5,754,000 in 2023).

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Annual results.
Consolidated figures in CHF million (-111.5 in 2023).

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CHF millions in savings thanks to
invoice control and digitisation (600 in 2023).

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Number of users of the Customer Area,
i.e. around 50% of our insured persons.

Number of employees as at 31.12.

Number of employees as at 31.12.

0
Number of agencies

Number of agencies

0
Number of service centres

Number of service centres

0
Percentage men/women

Percentage men/women

0% / 0%

1.343 million customers for health and pension provision

After strong growth in 2022 and 2023, Groupe Mutuel underwent a rebalancing of its business and lost 77,000 insured persons in compulsory health insurance (AOS/OKP) in 2024. Over the last three years, we therefore acquired 50,000 new insured persons, which remains a very good result. The loss of policyholders in 2024 was to be expected given the rise in premiums and the merger of two health insurance providers into other existing structures in order for us to increase solvency in compulsory health insurance. These measures strengthened the financial solidity of our health insurance companies.

The 2024 financial results are positive overall, with a consolidated profit of 29 million Swiss francs compared with a loss of 111 million in 2023. This positive result of 29 million Swiss francs is mainly due to the very good performance of investments, while healthcare costs continue to rise as expected.

The number of private customers across all areas of activity is therefore slightly down to 1.343 million in 2024 (1.42 million in 2023). This is offset by growth in the number of supplemental insurance policyholders and continued growth in revenue, which is significantly higher than last year. Groupe Mutuel remains one of Switzerland's leading insurance companies, and is the even the largest insurer with headquarters in French-speaking Switzerland.

With strong performance in equities and bonds, 2024 was a positive year for Groupe Mutuel Vie GMV SA. This excellent financial performance resulted in a profit of CHF 7 million for 2024. Although down on the previous year, this profit was due to strategic investments aimed at developing our activities and upgrading our operating system.

Growth in the Corporate sector continued with 31,000 insured companies, including 1,500 new customers in 2024. This sector confirmed its growth and remains Groupe Mutuel’s second largest business sector in terms of revenue, ahead of supplemental private insurance (LCA/VVG). Once again, the Corporate sector reported an increase in overall revenue last year, up 41 million to reach 1 billion for the first time, compared with 974 million in 2023.

Digitalisation, technology and AI

Digitalisation, technology and AI

How does Groupe Mutuel serve its customers by remaining at the cutting edge of technology and how does it hone its employees' skills in terms of artificial intelligence (AI)?

Even if the enthusiasm for Big Data is far from unanimous, one thing is clear: artificial intelligence is not going away anytime soon. While it can generate poetry in the style of Baudelaire or Rimbaud for fun, AI also has enormous practical potential for a company like Groupe Mutuel. By increasing the efficiency, quality and availability of some tasks, while reducing their complexity, it
enables us to find solutions that bring real added value to our customers.

Find out more about technology, digitalisation and AI at Groupe Mutuel by reading our special feature in our activity report!

Groupe Mutuel Rapport 2024

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