13 Investment Contracts

In CHF million   30.06.200831.12.2007
Investment contracts with discretionary participation with deposit accounting   11 39311 414
Investment contracts with discretionary participation with actuarial valuation   808743
Investment contracts without discretionary participation at amortised cost   427440
Investment contracts without discretionary participation at fair value through profit or loss   304310
Total investment contracts   12 93212 907
of which for the account and risk of the Swiss Life Group's customers   3 3183 567


For contracts that do not have significant insurance risk but contain discretionary participation features, the Swiss Life Group primarily bases its accounting policies on the requirements of the Generally Accepted Accounting Principles in the United States (US GAAP).

For investment-type contracts, savings premiums collected are reported as deposits (deposit accounting). These amounts primarily relate to contracts issued in France and Luxembourg.

For traditional contracts in the life insurance business, future life policy benefit liabilities are determined by using the net-level-premium method on the basis of actuarial assumptions as to mortality, persistency, expenses and investment return, including a margin for adverse deviation. For participating contracts where the contribution principle applies to the allocation of the policyholder bonus, future life policy benefit liabilities are determined by using the net-level-premium method on the basis of appropriate mortality and interest rate assumptions.

These amounts primarily relate to contracts issued in Switzerland and France.

Certain contracts that do not contain significant insurance risk and do not have discretionary participation features are carried at amortised cost.

 
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