Condensed Consolidated Statement of Income (unaudited)

Consolidated statement of income for the 6 months ended 30 June
In CHF million  
Notes  2012 HY 2011 HY
 
Income
 
Premiums earned on insurance contracts
  7 022 7 298
Premiums earned on investment contracts with discretionary participation
  401 393
Premiums ceded to reinsurers
  –94 –81
Net earned premiums
5  7 329 7 610
Policy fees earned on insurance contracts
  18 22
Policy fees earned on investment and unit-linked contracts
  133 124
Net earned policy fees
5  151 146
Commission income
6  368 405
Investment income
46  2 204 2 078
Net gains/losses on financial assets
46  1 079 –1 890
Net gains/losses on financial instruments at fair value through profit or loss
46  –86 1 866
Net gains/losses on investment property
4  181 146
Other income
6  38 57
Total income
  11 264 10 418
Expenses
 
Benefits and claims under insurance contracts
  –7 273 –7 301
Benefits and claims under investment contracts with discretionary participation
  –416 –403
Benefits and claims recovered from reinsurers
  48 37
Net insurance benefits and claims
6  –7 641 –7 667
Policyholder participation
  –1 631 –747
Interest expense
6  –124 –140
Commission expense
6  –373 –461
Employee benefits expense
6  –420 –409
Depreciation and amortisation expense
6  –303 –293
Impairment of property and equipment and intangible assets
  0 –4
Other expenses
6  –244 –245
Total expenses
  –10 736 –9 966
Profit from operations
  528 452
Borrowing costs
  –62 –55
Share of profit or loss of associates
4  6 5
Profit before income tax
  472 402
Income tax expense
7  –111 1
Net profit
  361 403
 
Net profit attributable to
 
equity holders of Swiss Life Holding
  360 403
non-controlling interests
  1 0
Net profit
  361 403
 
Earnings per share attributable to equity holders of Swiss Life Holding
 
Basic earnings per share (in CHF)
  11.30 12.61
Diluted earnings per share (in CHF)
  11.26 12.55


 

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