31 Related Party Transactions

Consolidated statement of income
In CHF million  20082007
 

Associates
Key
management
personnel


Other


Total


Total
Investment income  1122
Net gains/losses on financial instruments at fair value through profit or loss  –139–139–17
Interest expense  000
Employee benefits expense  –22–22–19
Other expenses  –2


Consolidated balance sheet
Amounts in CHF million  31.12.0831.12.07
 

Associates
Key
management
personnel


Other


Total


Total
Financial assets  0151151285
Loans  191919
 
SLH shares issued to key management under equity compensation plans (number)   – 10 253 – 10 253 7 617


Sales to and purchases from related parties are made at normal market prices. Outstanding balances at year-end are unsecured and settlement is made in cash. There have been no guarantees provided or received for any related party receivables. For the year ended 31 December 2008, no impairment allowance has been made for doubtful debts in respect of the amounts owed by related parties. This assessment is undertaken each financial year by examining the financial position of the related party and the market in which the related party operates.

Financial assets associated with other related parties primarily comprise strategic investments in a German bank conglomerate.

Key management compensation
In CHF million  20082007
Short-term employee benefits  1311
Post-employment benefits  22
Other long-term benefits 
Termination benefits 
Equity-settled share-based payments  76
Total  2219


Key management comprises the members of the Board of Directors of Swiss Life Holding and the members of the Corporate Executive Board of Swiss Life Holding. These individuals have the authority and responsibility for planning, directing and controlling the activities of the Swiss Life Group, directly or indirectly.

The details regarding key management compensation in accordance with the Swiss Code of Obligations, article 663bbis and article 663c, are set out in the Swiss Life Holding financial statements.

 
Back