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 minimum financial and insurance guarantees. The liabilities relating to these parts are included in financial liabilities and insurance liabilities.

Assets for the account and risk of the Swiss Life Group’s customers
In CHF million  
Notes  30.06.2011 31.12.2010
Cash and cash equivalents
  1 979 2 333
Financial assets at fair value through profit or loss
 
Debt securities
8  6 413 5 848
Equity securities
8  3 137 3 054
Investment fund units
8  8 662 8 656
Other
8  1 351 1 384
Total assets for the account and risk of the Swiss Life Group's customers
  21 542 21 275


Liabilities Linked to Assets for the account and risk of the Swiss Life Group’s customers
In CHF million  
Notes  30.06.2011 31.12.2010
Unit-linked contracts
8  17 275 17 259
Investment contracts
12  2 941 2 788
Insurance liabilities
14  1 197 961
Total liabilities linked to assets for the account and risk of the Swiss Life Group's customers
  21 413 21 008


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
  2011 HY 2010 HY 2011 HY 2010 HY 2011 HY 2010 HY
Investment income
  2 078 2 142 0 0 2 078 2 142
Net gains/losses on financial assets
  –1 842 –1 315 –48 –67 –1 890 –1 382
Net gains/losses on financial instruments at fair value through profit or loss (FVPL)
  1 798 1 201 68 93 1 866 1 294
Net gains/losses on investment property
  146 125 146 125
Share of results of associates
  5 2 5 2
Financial result
  2 185 2 155 20 26 2 205 2 181


 
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