Consolidated Statement of Income

Consolidated statement of income for the years ended 31 December
In CHF million 
Notes  20092008
 
Continuing operations
 
Income
 
Premiums earned on insurance contracts
  11 98713 392
Premiums earned on investment contracts with discretionary participation
  118166
Premiums ceded to reinsurers
  –238–304
Net earned premiums
7  11 86713 254
Policy fees earned on insurance contracts
  5654
Policy fees earned on investment and unit-linked contracts
  212206
Net earned policy fees
7  268260
Commission income
8  934950
Investment income
58  4 2074 563
Net gains/losses on financial assets
58  –118–6 010
Net gains/losses on financial instruments at fair value through profit or loss
58  3151 853
Net gains/losses on investment property
514  184194
Other income
8  159292
Total income
  17 81615 356
Expenses
 
Benefits and claims under insurance contracts
  –11 858–12 844
Benefits and claims under investment contracts with discretionary participation
  –129–184
Benefits and claims recovered from reinsurers
  103113
Net insurance benefits and claims
8  –11 884–12 915
Policyholder participation
  –1 539429
Interest expense
8  –353–393
Commission expense
8  –1 008–963
Employee benefits expense
8  –1 049–1 041
Depreciation and amortisation expense
8  –633–518
Impairment of property and equipment and intangible assets
1617  –24–4
Other expenses
8  –764–793
Total expenses
  –17 254–16 198
Result from operations
  562–842
Borrowing costs
  –141–181
Share of results of associates
515  6–149
Result before income tax
  427–1 172
Income tax expense
24  –10329
Net result from continuing operations
  324–1 143
 
Discontinued operations
 
Net result from discontinued operations
29  –471 488
 
Net profit
  277345
 
Net profit attributable to
 
equity holders of Swiss Life Holding
  278350
non-controlling interests
  –1–5
Net profit
  277345
 
Earnings per share from continuing operations attributable to equity holders of Swiss Life Holding
 
Basic earnings per share (in CHF)
6  10.36–35.37
Diluted earnings per share (in CHF)
6  10.33–35.37
Earnings per share attributable to equity holders of Swiss Life Holding
 
Basic earnings per share (in CHF)
6  8.8610.88
Diluted earnings per share (in CHF)
6  8.8310.88