17 Acquisitions and Disposals of Subsidiaries

Assets and liabilities from acquisitions
In CHF million  
Notes  2012 HY 2011 HY
 
Consideration
 
Cash consideration
  2 10
Contingent consideration arrangement(s)
  5
Total consideration
  7 10
Fair value of equity interest(s) held before acquisition
 
Total
  7 10
 
Acquisition-related costs
 
Commission expense
  0
Other expenses
  0
Total
  0 0
 
Identifiable assets acquired and liabilities assumed
 
Cash and cash equivalents
  1 1
Financial assets available for sale
  2
Loans and receivables
  0 2
Property and equipment
  0 0
Intangible assets including intangible insurance assets
12  1 2
Other assets
  0 0
Financial liabilities
  0 0
Employee benefit liabilities
  –1 –1
Provisions
  0
Deferred income tax liabilities
  –1
Other liabilities
  0 –1
Total identifiable net assets
  1 4
Non-controlling interests
  –3
Goodwill
12  6 9
Total
  7 10
 
Acquired loans and receivables
 
Fair value
  0 2
Gross contractual amounts receivable
  0 2
Estimated uncollectible cash flows
  0 0


In May 2012, the Swiss Life Group acquired a 100% share of aXenta AG, Baden, a company specialised in software development for pension funds.

In March 2011, the Swiss Life Group acquired a majority share of Viveris REIM, Marseilles, a real estate management company.

Assets and liabilities from DISPOSALs
In CHF million  
  2012 HY
 
Consideration
 
Non-cash consideration received
  8
 
Assets and liabilities disposed
 
Cash and cash equivalents
  1
Financial assets at fair value through profit or loss
  0
Financial assets available for sale
  15
Loans and receivables
  11
Reinsurance assets
  0
Property and equipment
  1
Intangible assets including intangible insurance assets
  0
Other assets
  0
Financial liabilities
  –10
Insurance liabilities
  –8
Employee benefit liabilities
  –1
Provisions
  –1
Other liabilities
  0
Net assets disposed of
  8
 
Gain/loss on disposals
 
Consideration received
  8
Net assets disposed of
  –8
Amounts recognised in other comprehensive income
  0
Gain (+)/loss (–) on disposals
  0


In June 2012, the French non-life operation Garantie Assistance S.A., Paris, was sold.

In 2011, no significant disposals of subsidiaries took place.

 

The future starts here.