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 specific investment objectives of the policyholders. 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 financial and insurance guarantees. The liabilities relating to this part 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  30.06.2014 31.12.2013
Cash and cash equivalents
  2 361 2 499
Derivatives
  0 0
Financial assets at fair value through profit or loss
 
Debt securities
8  6 178 5 607
Equity securities
8  5 900 4 639
Investment funds
8  15 363 15 813
Other
8  1 0
Total assets for the account and risk of the Swiss Life Group's customers
  29 803 28 559


Liabilities linked to assets for the account and risk of the Swiss Life Group’s customers
In CHF million  
Notes  30.06.2014 31.12.2013
Unit-linked contracts
8  22 992 22 436
Investment contracts
12  4 115 3 762
Insurance liabilities
14  2 466 2 200
Total liabilities linked to assets for the account and risk of the Swiss Life Group's customers
  29 573 28 398


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
Notes  2014 HY 2013 HY 2014 HY 2013 HY 2014 HY 2013 HY
Investment income
6  2 217 2 154 2 217 2 154
Net gains/losses on financial assets
6  92 1 145 0 92 1 146
Net gains/losses on financial instruments at fair value through profit or loss (FVPL)
6  173 –452 6 –11 179 –463
Net gains/losses on investment property
  132 385 132 385
Share of profit or loss of associates
  2 5 2 5
Financial result
  2 616 3 238 6 –11 2 621 3 227


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