Condensed Consolidated Statement of Income (unaudited)


Consolidated statement of income for the 6 months ended 30 June
In CHF million  
Notes  2014 HY 2013 HY
 
Income
 
Premiums earned on insurance contracts
  8 128 7 584
Premiums earned on investment contracts with discretionary participation
  368 344
Premiums ceded to reinsurers
  –90 –97
Net earned premiums
5  8 406 7 832
Policy fees earned on insurance contracts
  11 13
Policy fees earned on investment and unit-linked contracts
  136 140
Net earned policy fees
5  147 153
Commission income
6  435 393
Investment income
46  2 217 2 154
Net gains/losses on financial assets
46  92 1 146
Net gains/losses on financial instruments at fair value through profit or loss
46  179 –463
Net gains/losses on investment property
4  132 385
Share of profit or loss of associates
4  2 5
Other income
6  14 –27
Total income
  11 623 11 577
Expenses
 
Benefits and claims under insurance contracts
  –8 509 –7 986
Benefits and claims under investment contracts with discretionary participation
  –387 –357
Benefits and claims recovered from reinsurers
  46 59
Net insurance benefits and claims
6  –8 849 –8 284
Policyholder participation
  –665 –1 193
Interest expense
6  –105 –124
Commission expense
6  –416 –412
Employee benefits expense
6  –416 –416
Depreciation and amortisation expense
6  –253 –212
Impairment of property and equipment and intangible assets
  –1 –4
Other expenses
6  –241 –244
Total expenses
  –10 946 –10 889
Profit from operations
  677 688
Borrowing costs
  –78 –68
Profit before income tax
  599 620
Income tax expense
7  –112 –148
Net profit
  487 472
 
Net profit attributable to
 
equity holders of Swiss Life Holding
  484 472
non-controlling interests
  3 0
Net profit
  487 472
 
Earnings per share attributable to equity holders of Swiss Life Holding
 
Basic earnings per share (in CHF)
  15.16 14.78
Diluted earnings per share (in CHF)
  14.29 14.72


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