7 Premiums, Policy Fees and Deposits Received

Written premiums
In CHF million  
  2012 2011
Direct
  11 786 11 527
Assumed
  262 262
Gross written premiums
  12 048 11 789
Ceded
  –175 –191
Net written premiums
  11 873 11 598


Earned premiums
In CHF million  
  2012 2011
Direct
  11 784 11 528
Assumed
  262 262
Gross earned premiums
  12 046 11 790
Ceded
  –175 –191
Net earned premiums
  11 871 11 599


Written policy fees
In CHF million  
  2012 2011
Direct
  303 291
Assumed
  1 0
Gross written policy fees
  303 291
Ceded
  0 0
Net written policy fees
  303 291


Earned policy fees
In CHF million  
  2012 2011
Direct
  308 295
Assumed
  1 0
Gross earned policy fees
  309 295
Ceded
  0 0
Net earned policy fees
  309 295


Under the accounting principles adopted, deposits received under insurance and investment contracts for which deposit accounting is used are not recognised as income:

In CHF million  
  2012 2011
Gross written premiums and policy fees
  12 351 12 080
Deposits received under insurance and investment contracts
  4 695 5 063
Gross written premiums, policy fees and deposits received
  17 046 17 143


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