Consolidated Statement of Income

Consolidated statement of income for the years ended 31 December
In CHF million  
Notes  2010 2009
 
Continuing operations
 
Income
 
Premiums earned on insurance contracts
  11 456 11 987
Premiums earned on investment contracts with discretionary participation
  523 118
Premiums ceded to reinsurers
  –226 –238
Net earned premiums
7  11 753 11 867
Policy fees earned on insurance contracts
  41 56
Policy fees earned on investment and unit-linked contracts
  257 212
Net earned policy fees
7  298 268
Commission income
8  922 934
Investment income
58  4 242 4 207
Net gains/losses on financial assets
58  –4 430 –118
Net gains/losses on financial instruments at fair value through profit or loss
58  4 250 315
Net gains/losses on investment property
515  306 184
Other income
8  503 159
Total income
  17 844 17 816
Expenses
 
Benefits and claims under insurance contracts
  –12 289 –11 858
Benefits and claims under investment contracts with discretionary participation
  –543 –129
Benefits and claims recovered from reinsurers
  128 103
Net insurance benefits and claims
8  –12 704 –11 884
Policyholder participation
  –1 073 –1 539
Interest expense
8  –311 –353
Commission expense
8  –1 008 –1 008
Employee benefits expense
8  –846 –1 049
Depreciation and amortisation expense
8  –594 –633
Impairment of property and equipment and intangible assets
1718  –5 –24
Other expenses
8  –609 –764
Total expenses
  –17 150 –17 254
Profit from operations
  694 562
Borrowing costs
  –104 –141
Share of results of associates
516  6 6
Profit before income tax
  596 427
Income tax expense
25  –36 –103
Net profit from continuing operations
  560 324
 
Discontinued operations
 
Net result from discontinued operations
30  –47
 
Net profit
  560 277
 
Net profit attributable to
 
equity holders of Swiss Life Holding
  557 278
non-controlling interests
  3 –1
Net profit
  560 277
 
Earnings per share from continuing operations attributable to equity holders of Swiss Life Holding
 
Basic earnings per share (in CHF)
6  17.46 10.36
Diluted earnings per share (in CHF)
6  17.37 10.33
Earnings per share attributable to equity holders of Swiss Life Holding
 
Basic earnings per share (in CHF)
6  17.46 8.86
Diluted earnings per share (in CHF)
6  17.37 8.83