6 Details of Certain Items in the Consolidated Statement of Income

Commission income
In CHF million  
  2011 HY 2010 HY
Brokerage commissions
  302 353
Asset management commissions
  56 44
Other commissions and fees
  47 70
Total commission income
  405 467


Investment income
In CHF million  
  2011 HY 2010 HY
Interest income on financial assets held to maturity and available for sale
  1 138 1 062
Interest income on loans and receivables
  578 730
Other interest income
  7 6
Dividend income on financial assets available for sale
  50 52
Net income on investment property
  305 292
Total investment income
  2 078 2 142


Net gains/losses on financial assets
In CHF million  
  2011 HY 2010 HY
Sale of
 
financial assets available for sale
  53 340
loans
  93 26
Net gains/losses from sales
  146 366
Impairment losses on
 
debt securities available for sale
  –43 4
equity securities available for sale
  –42 –11
loans and receivables
  –3 –2
Impairment losses on financial assets
  –88 –9
Foreign currency gains/losses
  –1 948 –1 739
Total net gains/losses on financial assets
  –1 890 –1 382


Net gains/losses on financial instruments at fair value through profit or loss
In CHF million  
Notes  2011 HY 2010 HY
Interest rate derivatives
  –76 –95
Equity derivatives
  –13 8
Currency derivatives
  1 773 1 312
Other derivatives
  0 –12
Financial assets designated as at fair value through profit or loss
  69 –28
Financial liabilities designated as at fair value through profit or loss
  45 16
Financial instruments for the account and risk of the Swiss Life Group's customers
4  68 93
Total net gains/losses on financial instruments at fair value through profit or loss
  1 866 1 294


Other income
In CHF million  
  2011 HY 2010 HY
Realised gains/losses on sales of subsidiaries and other assets
  –1 16
Other foreign currency gains/losses
  47 259
Other
  11 22
Total other income
  57 297


Net insurance benefits and claims
In CHF million  
  2011 HY 2010 HY
Benefits and claims under insurance contracts
 
Life benefits and claims paid, gross
  5 409 5 225
Change in liability for future life policyholder benefits, gross
  1 766 2 132
Non-life claims paid, gross
  160 175
Change in reserve for non-life claims, gross
  –34 –22
Benefits and claims recovered from reinsurers
  –37 –54
Net benefits and claims under insurance contracts
  7 264 7 456
Benefits and claims under investment contracts with discretionary participation
 
Life benefits and claims paid, gross
  327 108
Change in liability for future life policyholder benefits, gross
  76 63
Net benefits and claims under investment contracts with discretionary participation
  403 171
Total net insurance benefits and claims
  7 667 7 627


Interest expense
In CHF million  
  2011 HY 2010 HY
Interest expense on deposits
  20 18
Interest expense on investment contracts
  51 60
Interest expense on deposits under insurance contracts
  52 64
Other interest expense
  17 19
Total interest expense
  140 161


Commission expense
In CHF million  
  2011 HY 2010 HY
Insurance agent and broker commissions
  421 445
Asset management and banking commissions
  30 26
Other commissions and fees
  10 21
Total commission expense
  461 492


Employee benefits expense
In CHF million  
  2011 HY 2010 HY
Wages and salaries
  285 306
Social security
  61 79
Defined benefit plans
  44 57
Defined contribution plans
  1 1
Other employee benefits
  18 20
Total employee benefits expense
  409 463


Depreciation and amortisation expense
In CHF million  
Notes  2011 HY 2010 HY
Depreciation of property and equipment
  15 18
Amortisation of present value of future profits (PVP)
11  1 0
Amortisation of deferred acquisition costs (DAC)
11  249 276
Amortisation of deferred origination costs (DOC)
11  11 5
Amortisation of other intangible assets
11  17 20
Total depreciation and amortisation expense
  293 319


Other expenses
In CHF million  
  2011 HY 2010 HY
Marketing and advertising
  30 34
Information technology and systems
  32 33
Rental, maintenance and repair expenses
  34 35
Professional services
  74 77
Premium taxes and other non-income taxes
  26 69
Other
  49 52
Total other expenses
  245 300


 
Back