Condensed Consolidated Statement of Income (unaudited)


Consolidated statement of income for the 6 months ended 30 June
In CHF million  
Notes  2015 HY 2014 HY
 
Income
 
Premiums earned on insurance contracts
  8 141 8 128
Premiums earned on investment contracts with discretionary participation
  518 368
Premiums ceded to reinsurers
  –72 –90
Net earned premiums
5  8 587 8 406
Policy fees earned on insurance contracts
  10 11
Policy fees earned on investment and unit-linked contracts
  125 136
Net earned policy fees
5  135 147
Commission income
6  477 435
Investment income
46  2 182 2 217
Net gains/losses on financial assets
46  –1 549 92
Net gains/losses on financial instruments at fair value through profit or loss
46  1 704 179
Net gains/losses on investment property
4  351 132
Share of profit or loss of associates
4  5 2
Other income
6  296 14
Total income
  12 187 11 623
Expenses
 
Benefits and claims under insurance contracts
  –8 726 –8 509
Benefits and claims under investment contracts with discretionary participation
  –537 –387
Benefits and claims recovered from reinsurers
  41 46
Net insurance benefits and claims
6  –9 223 –8 849
Policyholder participation
  –931 –665
Interest expense
6  –90 –105
Commission expense
6  –399 –416
Employee benefits expense
6  –417 –416
Depreciation and amortisation expense
6  –209 –253
Impairment of property and equipment and intangible assets
  –4 –1
Other expenses
6  –222 –241
Total expenses
  –11 496 –10 946
Profit from operations
  692 677
Borrowing costs
  –69 –78
Profit before income tax
  623 599
Income tax expense
7  –130 –112
Net profit
  493 487
 
Net profit attributable to
 
equity holders of Swiss Life Holding
  490 484
non-controlling interests
  3 3
Net profit
  493 487
 
Earnings per share attributable to equity holders of Swiss Life Holding
 
Basic earnings per share (in CHF)
  15.38 15.16
Diluted earnings per share (in CHF)
  14.51 14.29


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