Consolidated Statement of Income
Consolidated statement of income for the years ended 31 December
| | Notes
| | | |
|
| Continuing operations | |
| | | | |
| Income | |
| | | | |
|
| Premiums earned on insurance contracts | |
| 13 392 | | 13 455 | |
|
| Premiums earned on investment contracts with discretionary participation | |
| 166 | | 107 | |
|
| Premiums ceded to reinsurers | |
| –304 | | –246 | |
|
| Net earned premiums | | 7
| 13 254 | | 13 316 | |
|
| Policy fees earned on insurance contracts | |
| 54 | | 70 | |
|
| Policy fees earned on investment and unit-linked contracts | |
| 206 | | 319 | |
|
| Net earned policy fees | | 7
| 260 | | 389 | |
|
| Asset management and other commission income | | 8
| 950 | | 196 | |
|
| Investment income | | 5, 8
| 4 563 | | 4 878 | |
|
| Net gains/losses on financial assets | | 5, 8
| –6 010 | | –5 | |
|
| Net gains/losses on financial instruments at fair value through profit or loss | | 5, 8
| 1 853 | | –179 | |
|
| Net gains/losses on investment property | | 5, 15
| 194 | | 229 | |
|
| Other income | | 8
| 292 | | 147 | |
|
| Total income | |
| 15 356 | | 18 971 | |
|
| Expenses | |
| | | | |
|
| Benefits and claims under insurance contracts | |
| –12 844 | | –13 332 | |
|
| Benefits and claims under investment contracts with discretionary participation | |
| –184 | | –124 | |
|
| Benefits and claims recovered from reinsurers | |
| 113 | | 188 | |
|
| Net insurance benefits and claims | | 8
| –12 915 | | –13 268 | |
|
| Policyholder participation | |
| 429 | | –1 746 | |
|
| Interest expense | | 8
| –393 | | –455 | |
|
| Commission expense | | 8
| –963 | | –620 | |
|
| Employee benefits expense | | 8
| –1 041 | | –870 | |
|
| Depreciation and amortisation expense | | 8
| –518 | | –448 | |
|
| Impairment of property and equipment and intangible assets | | 17, 18
| –4 | | –6 | |
|
| Other expenses | | 8
| –793 | | –545 | |
|
| Total expenses | |
| –16 198 | | –17 958 | |
|
| Result from operations | |
| –842 | | 1 013 | |
|
| Borrowing costs | |
| –181 | | –177 | |
|
| Share of results of associates | | 5, 16
| –149 | | 12 | |
|
| Result before income tax | |
| –1 172 | | 848 | |
|
| Income tax expense | | 25
| 29 | | –122 | |
|
| Net result from continuing operations | |
| –1 143 | | 726 | |
|
| |
| | | | |
| Discontinued operations | |
| | | | |
|
| Net profit from discontinued operations | | 30
| 1 488 | | 642 | |
|
| |
| | | | |
|
| Net profit | |
| 345 | | 1 368 | |
|
| |
| | | | |
| Net profit attributable to | |
| | | | |
|
| equity holders of Swiss Life Holding | |
| 350 | | 1 345 | |
|
| minority interest | |
| –5 | | 23 | |
|
| Net profit | |
| 345 | | 1 368 | |
|
| Earnings per share from continuing operations attributable to equity holders of Swiss Life Holding | |
| | | | |
|
| Basic earnings per share (in CHF) | | 6
| -35.37 | | 21.33 | |
|
| Diluted earnings per share (in CHF) | | 6
| -35.37 | | 20.83 | |
|
| Earnings per share attributable to equity holders of Swiss Life Holding | |
| | | | |
|
| Basic earnings per share (in CHF) | | 6
| 10.88 | | 40.76 | |
|
| Diluted earnings per share (in CHF) | | 6
| 10.88 | | 39.60 | |
|
