Annual Report 2012 - Swiss Life

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104 Consolidated Financial Statements Consolidated Financial Statements 106 Consolidated Statement of Income 107 Consolidated Statement of Comprehensive Income 108 Consolidated Balance Sheet 110 Consolidated Statement of Cash Flows 112 Consolidated Statement of Changes in Equity 113 Notes to the Consolidated Financial Statements 113 1 General Information 113 2 Summary of Significant Accounting Policies 113 2.1 Basis of preparation 113 2.2 Changes in accounting policies 114 2.3 Consolidation principles 114 2.4 Foreign currency translation and transactions 115 2.5 Cash and cash equivalents 115 2.6 Derivatives 116 2.7 Financial assets 118 2.8 Impairment of financial assets 119 2.9 Investment property 120 2.10 Insurance operations 125 2.11 Property and equipment 125 2.12 Leases 125 2.13 Investment management 126 2.14 Commission income and expense 126 2.15 Intangible assets 128 2.16 Impairment of non-financial assets 128 2.17 Income taxes 129 2.18 Assets held for sale and associated liabilities 129 2.19 Financial liabilities 130 2.20 Employee benefits 131 2.21 Provisions and contingent liabilities 131 2.22 Treasury shares 131 2.23 Earnings per share 131 2.24 Offsetting 132 2.25 Forthcoming changes in accounting policies 133 3 Critical Accounting Estimates and Judgements in Applying Accounting Policies 138 4 Segment Information 145 5 Risk Management Policies and Procedures 145 5.1 Contracts for the account and risk of the Swiss Life Group’s customers 146 5.2 Risk budgeting and limit setting 147 5.3 Asset and liability management (ALM) 148 5.4 Financial risk management objectives and policies 162 5.5 Insurance risk management objectives and policies 169 6 Earnings per Share Swiss Life – Annual Report 2012
105 Consolidated Financial Statements 170 7 Premiums, Policy Fees and Deposits Received 171 8 Details of Certain Items in the Consolidated Statement of Income 175 9 Derivatives 177 10 Financial Assets and Liabilities at Fair Value through Profit or Loss 178 11 Financial Assets Available for Sale 178 12 Financial Assets Pledged as Collateral 179 13 Loans and Receivables 180 14 Financial Assets Held to Maturity 181 15 Investment Property 181 16 Investments in Associates 182 17 Property and Equipment 184 18 Intangible Assets including Intangible Insurance Assets 188 19 Other Assets and Liabilities 188 20 Investment Contracts 191 21 Borrowings 193 22 Other Financial Liabilities 193 23 Insurance Liabilities and Reinsurance Assets 196 24 Employee Benefits 201 25 Income Taxes 203 26 Provisions 204 27 Equity 206 28 Capital Management 207 29 Acquisitions and Disposals of Subsidiaries 209 30 Assets Held for Sale and Associated Liabilities 210 31 Acquisition of Insurance Portfolio 211 32 Related Party Transactions 212 33 Fair Value of Financial Instruments 215 34 Guarantees and Commitments 216 35 Collateral 217 36 Future Minimum Lease Payments under Non-Cancellable Operating Leases – Lessor 218 37 Scope of Consolidation Swiss Life – Annual Report 2012
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Swiss Life Group annual report 2012
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4 Facts & Figures The Swiss Life
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6 Shareholder’s Letter Dear Share
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8 Summary of Group results Summary
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Amounts in CHF million 2012 2011 +/
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12 Segment Reporting Segment Report
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14 Segment Reporting New products l
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16 Segment Reporting insurance Fran
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18 Segment Reporting insurance Germ
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20 Segment Reporting insurance inte
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22 Segment Reporting Investment Man
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24 Segment Reporting AWD The AWD Gr
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26 Corporate Governance Corporate G
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28 Corporate Governance Talanx AG,
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30 Corporate Governance decreased t
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32 Corporate Governance The accepta
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34 Corporate Governance FRANK SCHNE
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36 Corporate Governance HENRY PETER
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38 Corporate Governance The Board o
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40 Corporate Governance also regula
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42 Corporate Governance Management
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44 Corporate Governance MEMBERS OF
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46 Corporate Governance Other appoi
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48 Corporate Governance Transfer of
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50 Corporate Governance The Board o
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52 Corporate Governance COMPENSATIO
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Page 64 and 65: 64 Risk Management Risk Management
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154 Consolidated Financial Statemen
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In CHF million CHF EUR USD GBP JPY
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In CHF million 31.12.2012 31.12.201
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In CHF million 2012 2011 In CHF mil
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In CHF million Notes 2012 2011 In C
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In CHF million Notes 2012 2011 In C
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In CHF million 2012 2011 180 Consol
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In CHF million 31.12.2012 31.12.201
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In CHF million 31.12.2012 31.12.201
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In CHF million 2012 2011 194 Consol
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In CHF million 31.12.2012 31.12.201
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Number of shares 2012 2011 204 Cons
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In CHF million 2012 208 Consolidate
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In CHF million 01.04.2011 210 Conso
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226 Swiss Life Holding Financial St
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In CHF million 2012 2011 228 Swiss
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As % of total share capital 31.12.2
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In CHF million 2012 2011 232 Swiss
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250 Share Performance and Historica
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252 Contacts and Publishing Details
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130 286 The future starts here. Swi
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Annual Report 2012 - Swiss Life

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