8 Details of Certain Items in the Consolidated Statement of Income

Commission income
In CHF million  
  2010 2009
Brokerage commissions
  716 736
Asset management commissions
  96 95
Other commissions and fees
  110 103
Total commission income
  922 934


Investment income
In CHF million  
  2010 2009
Interest income on financial assets held to maturity and available for sale
  2 201 1 814
Interest income on loans and receivables
  1 352 1 694
Other interest income
  13 19
Dividend income on financial assets available for sale
  111 103
Net income on investment property
  565 577
Total investment income
  4 242 4 207


Net gains/losses on financial assets
In CHF million  
Notes  2010 2009
Sale of
 
financial assets available for sale
27  385 495
loans
  17 –64
Net gains/losses from sales
  402 431
Impairment losses on
 
debt securities available for sale
27  4 6
equity securities available for sale
27  –68 –180
loans and receivables
13  –9 –83
Impairment losses on financial assets
  –73 –257
Foreign currency gains/losses
  –4 759 –292
Total net gains/losses on financial assets
  –4 430 –118


Net gains/losses on financial instruments at fair value through profit or loss
In CHF million  
  2010 2009
Interest rate derivatives
  42 22
Equity derivatives
  –32 –328
Currency derivatives
  4 185 190
Other derivatives
  –14 –31
Financial assets designated as at fair value through profit or loss
  57 445
Financial liabilities designated as at fair value through profit or loss
  11 –8
Financial instruments held for trading
  1
Financial instruments for the account and risk of the Swiss Life Group's customers
  1 24
Total net gains/losses on financial instruments at fair value through profit or loss
  4 250 315


Other income
In CHF million  
  2010 2009
Realised gains/losses on sales of subsidiaries and other assets
  15 13
Net gains on repurchased financial liabilities
  95
Other foreign currency gains/losses
  469 7
Other
  19 44
Total other income
  503 159


Net insurance benefits and claims
In CHF million  
  2010 2009
Benefits and claims under insurance contracts
 
Life benefits and claims paid, gross
  9 451 10 781
Change in liability for future life policyholder benefits, gross
  2 543 700
Non-life claims paid, gross
  306 343
Change in reserve for non-life claims, gross
  –11 34
Benefits and claims recovered from reinsurers
  –128 –103
Net benefits and claims under insurance contracts
  12 161 11 755
Benefits and claims under investment contracts with discretionary participation
 
Life benefits and claims paid, gross
  164 111
Change in liability for future life policyholder benefits, gross
  379 18
Benefits and claims recovered from reinsurers
 
Net benefits and claims under investment contracts with discretionary participation
  543 129
Total net insurance benefits and claims
  12 704 11 884


Interest expense
In CHF million  
Notes  2010 2009
Interest expense on deposits
  40 36
Interest expense on investment contracts
20  120 136
Interest expense on deposits under insurance contracts
23  118 139
Other interest expense
  33 42
Total interest expense
  311 353


Commission expense
In CHF million  
  2010 2009
Insurance agent and broker commissions
  917 916
Asset management and banking commissions
  49 47
Other commissions and fees
  42 45
Total commission expense
  1 008 1 008


Employee benefits expense
In CHF million  
Notes  2010 2009
Wages and salaries
  587 674
Social security
  138 172
Defined benefit plans
24  72 118
Defined contribution plans
  1 1
Other employee benefits
  48 84
Total employee benefits expense
  846 1 049


Depreciation and amortisation expense
In CHF million  
Notes  2010 2009
Depreciation of property and equipment
17  35 47
Amortisation of present value of future profits (PVP)
18  1 1
Amortisation of deferred acquisition costs (DAC)
18  503 533
Amortisation of deferred origination costs (DOC)
18  14 7
Amortisation of other intangible assets
18  41 45
Total depreciation and amortisation expense
  594 633


Other expenses
In CHF million  
  2010 2009
Marketing and advertising
  69 111
Information technology and systems
  62 107
Rental, maintenance and repair expenses
  75 83
Professional services
  183 206
Premium taxes and other non-income taxes
  132 129
Other
  88 128
Total other expenses
  609 764


Net gains/losses on financial instruments at fair value through profit or loss from continuing operations include interest and dividend income of CHF 48 million for the period ended 31 December 2010 (2009: CHF 84 million). Net gains/losses on liabilities designated as at fair value through profit or loss from continuing operations include changes attributable to credit risk: nil for the period ended 31 December 2010 (2009: nil).

 
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