6 Details of Certain Items in the Consolidated Statement of Income

Commission income
In CHF million  
  2012 HY 2011 HY
Brokerage commissions
  247 302
Asset management commissions
  56 56
Other commissions and fees
  65 47
Total commission income
  368 405


Investment income
In CHF million  
  2012 HY 2011 HY
Interest income on financial assets held to maturity and available for sale
  1 317 1 138
Interest income on loans and receivables
  527 578
Other interest income
  5 7
Dividend income on financial assets available for sale
  43 50
Net income on investment property
  312 305
Total investment income
  2 204 2 078


Net gains/losses on financial assets
In CHF million  
  2012 HY 2011 HY
Sale of
 
financial assets held to maturity
  483
financial assets available for sale
  526 53
loans
  65 93
Net gains/losses from sales
  1 074 146
Impairment losses on
 
debt securities available for sale
  –1 –43
equity securities available for sale
  –16 –42
loans and receivables
  –1 –3
Impairment losses on financial assets
  –18 –88
Foreign currency gains/losses
  23 –1 948
Total net gains/losses on financial assets
  1 079 –1 890


Net gains/losses on financial instruments at fair value through profit or loss
In CHF million  
Notes  2012 HY 2011 HY
Interest rate derivatives
  3 –76
Equity derivatives
  –21 –13
Currency derivatives
  –224 1 773
Other derivatives
  8 0
Financial assets designated as at fair value through profit or loss
  153 69
Financial liabilities designated as at fair value through profit or loss
  –61 45
Financial instruments for the account and risk of the Swiss Life Group's customers
4  56 68
Total net gains/losses on financial instruments at fair value through profit or loss
  –86 1 866


Other income
In CHF million  
  2012 HY 2011 HY
Realised gains/losses on sales of subsidiaries and other assets
  2 –1
Other foreign currency gains/losses
  18 47
Other
  18 11
Total other income
  38 57


Net insurance benefits and claims
In CHF million  
  2012 HY 2011 HY
Benefits and claims under insurance contracts
 
Life benefits and claims paid, gross
  5 211 5 409
Change in liability for future life policyholder benefits, gross
  1 933 1 766
Non-life claims paid, gross
  140 160
Change in reserve for non-life claims, gross
  –11 –34
Benefits and claims recovered from reinsurers
  –48 –37
Net benefits and claims under insurance contracts
  7 225 7 264
Benefits and claims under investment contracts with discretionary participation
 
Life benefits and claims paid, gross
  240 327
Change in liability for future life policyholder benefits, gross
  176 76
Benefits and claims recovered from reinsurers
 
Net benefits and claims under investment contracts with discretionary participation
  416 403
Total net insurance benefits and claims
  7 641 7 667


Interest expense
In CHF million  
  2012 HY 2011 HY
Interest expense on deposits
  13 20
Interest expense on investment contracts
  48 51
Interest expense on deposits under insurance contracts
  45 52
Other interest expense
  18 17
Total interest expense
  124 140


Commission expense
In CHF million  
  2012 HY 2011 HY
Insurance agent and broker commissions
  340 421
Asset management and banking commissions
  24 30
Other commissions and fees
  9 10
Total commission expense
  373 461


Employee benefits expense
In CHF million  
Notes  2012 HY 2011 HY
Wages and salaries
  285 285
Social security
  58 61
Defined benefit plans
16  58 44
Defined contribution plans
  0 1
Other employee benefits
  19 18
Total employee benefits expense
  420 409


Depreciation and amortisation expense
In CHF million  
Notes  2012 HY 2011 HY
Depreciation of property and equipment
  13 15
Amortisation of present value of future profits (PVP)
12  0 1
Amortisation of deferred acquisition costs (DAC)
12  257 249
Amortisation of deferred origination costs (DOC)
12  14 11
Amortisation of other intangible assets
12  19 17
Total depreciation and amortisation expense
  303 293


Other expenses
In CHF million  
  2012 HY 2011 HY
Marketing and advertising
  27 30
Information technology and systems
  28 32
Rental, maintenance and repair
  41 34
Professional services
  74 74
Premium taxes and other non-income taxes
  27 26
Other
  47 49
Total other expenses
  244 245


 

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