Condensed Consolidated Statement of Income (unaudited)

Consolidated statement of income for the 6 months ended 30 June
In CHF million  
Notes  2010 HY 2009 HY
 
Continuing operations
 
Income
 
Premiums earned on insurance contracts
  7 395 7 510
Premiums earned on investment contracts with discretionary participation
  163 108
Premiums ceded to reinsurers
  –106 –110
Net earned premiums
5  7 452 7 508
Policy fees earned on insurance contracts
  24 25
Policy fees earned on investment and unit-linked contracts
  120 86
Net earned policy fees
5  144 111
Commission income
6  467 450
Investment income
46  2 142 2 148
Net gains/losses on financial assets
46  –1 382 441
Net gains/losses on financial instruments at fair value through profit or loss
46  1 294 –575
Net gains/losses on investment property
4  125 95
Other income
6  297 –4
Total income
  10 539 10 174
Expenses
 
Benefits and claims under insurance contracts
  –7 510 –7 357
Benefits and claims under investment contracts with discretionary participation
  –171 –111
Benefits and claims recovered from reinsurers
  54 22
Net insurance benefits and claims
6  –7 627 –7 446
Policyholder participation
  –762 –651
Interest expense
6  –161 –180
Commission expense
6  –492 –476
Employee benefits expense
6  –463 –500
Depreciation and amortisation expense
6  –319 –313
Impairment of property and equipment and intangible assets
  0 0
Other expenses
6  –300 –357
Total expenses
  –10 124 –9 923
Profit from operations
  415 251
Borrowing costs
  –54 –81
Share of results of associates
4  2 6
Profit before income tax
  363 176
Income tax expense
7  –94 –4
Net profit from continuing operations
  269 172
 
Discontinued operations
 
Net result from discontinued operations
19  –33
 
Net profit
  269 139
 
Net profit attributable to
 
equity holders of Swiss Life Holding
  268 142
non-controlling interests
  1 –3
Net profit
  269 139
 
Earnings per share from continuing operations attributable to equity holders of Swiss Life Holding
 
Basic earnings per share (in CHF)
  8.39 5.64
Diluted earnings per share (in CHF)
  8.36 5.62
Earnings per share attributable to equity holders of Swiss Life Holding
 
Basic earnings per share (in CHF)
  8.39 4.58
Diluted earnings per share (in CHF)
  8.36 4.56