6 Details of Certain Items in the Consolidated Statement of Income

Commission income
In CHF million  
  2010 HY 2009 HY
Asset management commissions
  44 40
Brokerage commissions
  353 354
Fees earned on loans and deposits
  0 0
Other commissions and fees
  70 56
Total commission income
  467 450


Investment income
In CHF million  
  2010 HY 2009 HY
Interest income on financial assets held to maturity and available for sale
  1 062 894
Interest income on loans and receivables
  730 886
Other interest income
  6 12
Dividend income on financial assets available for sale
  52 52
Net income on investment property
  292 304
Total investment income
  2 142 2 148


Net gains/losses on financial assets
In CHF million  
  2010 HY 2009 HY
Sale of
 
financial assets available for sale
  340 –37
loans
  26 –46
Net gains/losses from sales
  366 –83
Impairment losses on
 
debt instruments available for sale
  4 24
equity instruments available for sale
  –11 –137
loans and receivables
  –2 –32
Impairment losses on financial assets
  –9 –145
Foreign currency gains/losses
  –1 739 669
Total net gains/losses on financial assets
  –1 382 441


Net gains/losses on financial instruments at fair value through profit or loss
In CHF million  
Notes  2010 HY 2009 HY
Interest rate derivatives
  –95 63
Equity derivatives
  8 –137
Currency derivatives
  1 312 –632
Other derivatives
  –12 –4
Financial assets designated as at fair value through profit or loss
  –28 156
Financial liabilities designated as at fair value through profit or loss
  16 –15
Financial instruments for the account and risk of the Swiss Life Group's customers
4  93 –7
Fair value hedges
  0 1
Total net gains/losses on financial instruments at fair value through profit or loss
  1 294 –575


Other income
In CHF million  
  2010 HY 2009 HY
Realised gains/losses on sales of subsidiaries and other assets
  16 –6
Net gains on repurchased financial liabilities
  35
Other foreign currency gains/losses
  259 –63
Other
  22 30
Total other income
  297 –4


Net insurance benefits and claims
In CHF million  
  2010 HY 2009 HY
Benefits and claims under insurance contracts
 
Life benefits and claims paid, gross
  5 225 5 919
Change in liability for future life policyholder benefits, gross
  2 132 1 254
Non-life claims paid, gross
  175 179
Change in reserve for non-life claims, gross
  –22 5
Benefits and claims recovered from reinsurers
  –54 –22
Net benefits and claims under insurance contracts
  7 456 7 335
Benefits and claims under investment contracts with discretionary participation
 
Life benefits and claims paid, gross
  108 98
Change in liability for future life policyholder benefits, gross
  63 13
Net benefits and claims under investment contracts with discretionary participation
  171 111
Total net insurance benefits and claims
  7 627 7 446


Interest expense
In CHF million  
  2010 HY 2009 HY
Interest expense on deposits
  18 17
Interest expense on investment contracts
  60 72
Interest expense on deposits under insurance contracts
  64 67
Other interest expense
  19 24
Total interest expense
  161 180


Commission expense
In CHF million  
  2010 HY 2009 HY
Insurance agent and broker commissions
  445 437
Asset management and banking commissions
  26 21
Other commissions and fees
  21 18
Total commission expense
  492 476


Employee benefits expense
In CHF million  
  2010 HY 2009 HY
Wages and salaries
  306 332
Social security
  79 84
Defined benefit plans
  57 60
Defined contribution plans
  1 1
Other employee benefits
  20 23
Total employee benefits expense
  463 500


Depreciation and amortisation expense
In CHF million  
Notes  2010 HY 2009 HY
Depreciation of property and equipment
  18 25
Amortisation of present value of future profits (PVP)
13  0 0
Amortisation of deferred acquisition costs (DAC)
13  276 265
Amortisation of deferred origination costs (DOC)
13  5 1
Amortisation of other intangible assets
13  20 22
Total depreciation and amortisation expense
  319 313


Other expenses
In CHF million  
  2010 HY 2009 HY
Marketing and advertising
  34 55
Information technology and systems
  33 49
Rental, maintenance and repair expenses
  35 42
Professional services
  77 92
Premium taxes and other non-income taxes
  69 67
Other
  52 52
Total other expenses
  300 357


 
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