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 unit-linking 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  30.06.2012 31.12.2011
Cash and cash equivalents
  2 674 2 446
Financial assets at fair value through profit or loss
 
Debt securities
8  6 422 6 083
Equity securities
8  3 102 3 311
Investment fund units
8  9 735 9 150
Other
8  1 474 1 356
Total assets for the account and risk of the Swiss Life Group's customers
  23 407 22 346


Liabilities Linked to Assets for the account and risk of the Swiss Life Group’s customers
In CHF million  
Notes  30.06.2012 31.12.2011
Unit-linked contracts
8  19 230 18 216
Investment contracts
13  2 836 2 828
Insurance liabilities
15  1 163 1 108
Total liabilities linked to assets for the account and risk of the Swiss Life Group's customers
  23 229 22 152


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
  2012 HY 2011 HY 2012 HY 2011 HY 2012 HY 2011 HY
Investment income
  2 204 2 078 0 0 2 204 2 078
Net gains/losses on financial assets
  1 109 –1 842 –30 –48 1 079 –1 890
Net gains/losses on financial instruments at fair value through profit or loss (FVPL)
  –142 1 798 56 68 –86 1 866
Net gains/losses on investment property
  181 146 181 146
Share of profit or loss of associates
  6 5 6 5
Financial result
  3 358 2 185 26 20 3 384 2 205


 

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