32 Related Party Transactions

Consolidated statement of income
In CHF million  
 

Associates
Key
management
personnel


Other


Total


Total
  2012 2011
Asset management and other income
  1 1 0
Investment income
  0 0 1
Interest expense
  0 0 0
Employee benefits expense
  –18 –18 –18
Other expenses
  0


Consolidated balance sheet
In CHF million  
 

Associates
Key
management
personnel


Other


Total


Total
  31.12.2012 31.12.2011
Loans and receivables
  22 22 21
Borrowings
  –1 –1 –1
Other financial liabilities
  –3 –3


Outstanding balances at year-end are unsecured and settlement is made in cash. There have been no guarantees provided or received for any related party receivables. For the years ended 31 December 2012 and 2011, no impairment allowance has been made for doubtful debts in respect of the amounts owed by related parties. This assessment is undertaken each financial year by examining the financial position of the related party and the market in which the related party operates.

Key management compensation
In CHF million  
  2012 2011
Short-term employee benefits
  13 13
Post-employment benefits
  2 2
Equity-settled share-based payments
  3 3
Total
  18 18


Key management comprises the members of the Board of Directors of Swiss Life Holding and the members of the Corporate Executive Board of Swiss Life Holding. These individuals have the authority and responsibility for planning, directing and controlling the activities of the Swiss Life Group, directly or indirectly.

The details regarding key management compensation in accordance with the Swiss Code of Obligations, article 663bbis and article 663c, are set out in the Swiss Life Holding financial statements.

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