4 Contracts for the Account and Risk of the Swiss Life Group’s Customers

Assets relating to certain life insurance and investment contracts are managed for the account and risk of the Swiss Life Group’s customers (separate account/unit-linked contracts, private placement life insurance). They are segregated and managed to meet the policyholder’s specific investment objectives. The assets back the insurance liabilities and the financial liabilities arising from these contracts. The fair values of the liabilities reflect the fair values of the assets. Certain contracts with unitlinking features contain guaranteed minimum insurance benefits. The liabilities relating to this part are included in the insurance liabilities.

Assets for the account and risk of the Swiss Life Group’s customers
In CHF million  
Notes  30.06.2010 31.12.2009
Cash and cash equivalents
  1 594 1 910
Derivatives
  11 10
Financial assets at fair value through profit or loss
 
Debt instruments
8  5 204 5 077
Equity securities
8  2 772 2 616
Investment fund units
8  7 946 7 355
Other
8  1 922 1 693
Total assets for the account and risk of the Swiss Life Group's customers
  19 449 18 661


Liabilities for the account and risk of the Swiss Life Group’s customers
In CHF million  
Notes  30.06.2010 31.12.2009
Financial liabilities at fair value through profit or loss
8  15 854 15 101
Investment contracts
14  2 685 2 788
Insurance liabilities
16  851 742
Total liabilities for the account and risk of the Swiss Life Group's customers
  19 390 18 631


The financial result for the six months ended 30 June for the account and risk of the Swiss Life Group and the Swiss Life Group’s customers was as follows:

In CHF million  
  For the account and risk of the Swiss Life Group For the account and risk of the Swiss Life Group's customers Total
  2010 HY 2009 HY 2010 HY 2009 HY 2010 HY 2009 HY
Investment income
  2 142 2 148 0 2 142 2 148
Net gains/losses on financial assets
  –1 315 441 –67 –1 382 441
Net gains/losses on financial instruments at fair value through profit or loss (FVPL)
  1 201 –568 93 –7 1 294 –575
Net gains/losses on investment property
  125 95 125 95
Share of results of associates
  2 6 2 6
Financial result
  2 155 2 122 26 –7 2 181 2 115


 
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