Year-on-Year Comparisons

Historical Comparison

Swiss Life Group historical comparison

In CHF million (if not stated otherwise)	2007		2006	2005	2004	2003	¹

Premium volume
Gross written premiums, policy fees and deposits received	24 170		22 064	20 211	20 180	18 760

Gross written premiums, policy fees and deposits received (continuing operations)	21 213		19 421	n.a.	n.a.	n.a.

Figures from consolidated statement of income
Net earned premiums	13 316		12 283	13 512	14 657	14 822

Net earned policy fees	389		390	394	167	n.a.

Financial result (for the account and risk of the Swiss Life Group)	4 885		5 307	6 966	6 844	5 836

Total income	18 971		18 219	21 542	22 328	21 088

Net insurance benefits and claims	–13 268		–12 012	–14 040	–15 375	–15 726

Policyholder participation	–1 746		–2 143	–2 227	–1 553	– 871

Operating expenses	–2 489		–2 432	–3 390	–3 341	–2 960

Total expenses	–17 958		–17 309	–20 519	–21 180	–20 611

Profit from operations	1 013		910	1 023	1 148	557

Net profit from continuing operations	726		576	n.a.	n.a.	n.a.

Net profit from discontinued operations	642	²	378	n.a.	n.a.	n.a.

Net profit	1 368		954	874	606	233

Net profit attributable to

Equity holders of Swiss Life Holding	1 345		933	860	579	n.a.

Minority interest	23		21	14	27	n.a.

Figures from consolidated balance sheet
Equity	7 334		7 851	7 953	6 490	4 964

Insurance reserves	121 829		153 800	139 252	131 415	136 214

Balance sheet total	179 757		186 950	177 597	164 736	162 478

Share performance
Basic earnings per share (CHF)	40.76		27.87	25.67	18.57	9.68

Diluted earnings per share (CHF)	39.60		26.92	24.82	18.27	8.83

Dividend paid per share (CHF)	7.00		5.00	4.00	–	–

Total dividend payout to shareholders	245		169	135	–	–

Year-end price (CHF)	283.00		305.25	237.70	165.50	227.00

Year-end market capitalisation	9 894		10 310	8 029	5 590	5 323

Further key figures
Return on equity (in %)	18.1		12.2	12.3	10.7	5.3

Assets under control	138 946		214 041	215 094	197 749	193 806

Year-end embedded value	12 837		10 665	8 887	7 936	6 911

Value of new business	118		121	48	41	63

Number of employees (full-time equivalents)	8 556		8 693	8 979	9 419	10 015

1 2003 figures not adjusted to the financial reporting requirements as of 1 January 2005.
2 Including reserve release of CHF 304 million due to change in Dutch law.

Due to the sale of its Dutch and Belgian operations and of Banca del Gottardo announced in November 2007, Swiss Life adjusted the presentation of its Financial Statements in accordance with the relevant regulations, gearing them to the continuing operations. The units sold are fully consolidated up to the completion of the transaction concerned, but only their net contribution to the net profit is included in the Consolidated Statement of Income. The previous year’s figures have been adjusted accordingly to enhance comparability. In the Balance Sheet, the assets and liabilities of the units sold are stated separately. The segment reports, on the other hand, contain the full 2007 results of the units sold as well.