Consolidated Statement of Income
Consolidated statement of income for the years ended 31 December
| | Notes
| | | |
|
| Continuing operations | |
| | | | |
| Income | |
| | | | |
|
| Premiums earned on insurance contracts | |
| 13 455 | | 12 424 | |
|
| Premiums earned on investment contracts with discretionary participation | |
| 107 | | 78 | |
|
| Premiums ceded to reinsurers | |
| –246 | | –219 | |
|
| Net earned premiums | | 7
| 13 316 | | 12 283 | |
|
| Policy fees earned on insurance contracts | |
| 70 | | 73 | |
|
| Policy fees earned on investment and unit-linked contracts | |
| 319 | | 317 | |
|
| Net earned policy fees | | 7
| 389 | | 390 | |
|
| Asset management and other commission income | | 8
| 196 | | 198 | |
|
| Investment income | | 5, 8
| 4 878 | | 4 129 | |
|
| Net gains/losses on financial assets | | 5, 8
| –5 | | 885 | |
|
| Net gains/losses on financial instruments at fair value through profit or loss | | 5, 8
| –179 | | 256 | |
|
| Net gains/losses on investment property | | 5, 15
| 229 | | 94 | |
|
| Other income | | 8
| 147 | | –16 | |
|
| Total income | |
| 18 971 | | 18 219 | |
|
| Expenses | |
| | | | |
|
| Benefits and claims under insurance contracts | |
| –13 332 | | –12 077 | |
|
| Benefits and claims under investment contracts with discretionary participation | |
| –124 | | –91 | |
|
| Benefits and claims recovered from reinsurers | |
| 188 | | 156 | |
|
| Net insurance benefits and claims | | 8
| –13 268 | | –12 012 | |
|
| Policyholder participation | |
| –1 746 | | –2 143 | |
|
| Interest expense | | 8, 37
| –455 | | –722 | |
|
| Commission expense | | 8, 37
| –620 | | –637 | |
|
| Employee benefits expense | | 8, 37
| –870 | | –848 | |
|
| Depreciation and amortisation expense | | 8, 17, 18
| –448 | | –421 | |
|
| Impairment of property and equipment and intangible assets | | 17, 18
| –6 | | –31 | |
|
| Other expenses | | 8, 37
| –545 | | –495 | |
|
| Total expenses | |
| –17 958 | | –17 309 | |
|
| Profit from operations | |
| 1 013 | | 910 | |
|
| Borrowing costs | | 37
| –177 | | –119 | |
|
| Share of results of associates | | 5, 16
| 12 | | 11 | |
|
| Profit before income tax | |
| 848 | | 802 | |
|
| Income tax expense | | 25
| –122 | | –226 | |
|
| Net profit from continuing operations | |
| 726 | | 576 | |
|
| |
| | | | |
| Discontinued operations | |
| | | | |
|
| Net profit from discontinued operations | | 30
| 642 | | 378 | |
|
| |
| | | | |
|
| Net profit | |
| 1 368 | | 954 | |
|
| |
| | | | |
| Net profit attributable to | |
| | | | |
|
| equity holders of Swiss Life Holding | |
| 1 345 | | 933 | |
|
| minority interest | |
| 23 | | 21 | |
|
| Net profit | |
| 1 368 | | 954 | |
|
| Earnings per share from continuing operations attributable to equity holders of Swiss Life Holding | |
| | | | |
|
| Basic earnings per share (in CHF) | | 6
| 21.33 | | 16.59 | |
|
| Diluted earnings per share (in CHF) | | 6
| 20.83 | | 16.16 | |
|
| Earnings per share attributable to equity holders of Swiss Life Holding | |
| | | | |
|
| Basic earnings per share (in CHF) | | 6
| 40.76 | | 27.87 | |
|
| Diluted earnings per share (in CHF) | | 6
| 39.60 | | 26.92 | |
|
