Annual Report 2012 - Swiss Life

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In CHF million Notes 2012 2011 106 Consolidated Financial Statements Consolidated Statement of Income Consolidated statement of income for the years ended 31 December Income Premiums earned on insurance contracts 11 385 11 105 Premiums earned on investment contracts with discretionary participation 661 685 Premiums ceded to reinsurers –175 –191 Net earned premiums 7 11 871 11 599 Policy fees earned on insurance contracts 36 39 Policy fees earned on investment and unit-linked contracts 273 256 Net earned policy fees 7 309 295 Commission income 8 826 893 Investment income 5, 8 4 297 4 216 Net gains/losses on financial assets 5, 8 776 550 Net gains/losses on financial instruments at fair value through profit or loss 5, 8 580 –820 Net gains/losses on investment property 5, 15 390 513 Other income 8 25 45 Total income 19 075 17 291 Expenses Benefits and claims under insurance contracts –13 214 –12 008 Benefits and claims under investment contracts with discretionary participation –685 –709 Benefits and claims recovered from reinsurers 79 103 Net insurance benefits and claims 8 –13 819 –12 614 Policyholder participation –1 104 –791 Interest expense 8 –253 –274 Commission expense 8 –871 –983 Employee benefits expense 8 –871 –835 Depreciation and amortisation expense 8 –685 –554 Impairment of property and equipment and intangible assets 17, 18 –604 –11 Other expenses 8 –521 –530 Total expenses –18 728 –16 592 Profit from operations 346 699 Borrowing costs –125 –120 Share of profit or loss of associates 5, 16 8 6 Profit before income tax 229 585 Income tax expense 25 –137 21 Net profit 93 606 Net profit attributable to equity holders of Swiss Life Holding 92 605 non-controlling interests 1 1 Net profit 93 606 Earnings per share attributable to equity holders of Swiss Life Holding Basic earnings per share (in CHF) 6 2.88 18.97 Diluted earnings per share (in CHF) 6 2.86 18.87 Swiss Life – Annual Report 2012
In CHF million Notes 2012 2011 107 Consolidated Financial Statements Consolidated Statement of Comprehensive Income Consolidated statement of comprehensive income for the years ended 31 December Net profit 93 606 Other comprehensive income Exchange differences on translating foreign operations –21 –71 Financial assets available for sale 3 816 3 161 Cash flow hedges 408 173 Revaluation surplus on investment property 61 14 Share of other comprehensive income of associates 0 – Financial assets reclassified to loans and receivables 170 110 Policyholder participation –2 856 –1 639 Shadow accounting –19 –141 Income tax relating to other comprehensive income –390 –343 Net other comprehensive income 27 1 171 1 264 Total net comprehensive income 1 264 1 870 Total net comprehensive income attributable to equity holders of Swiss Life Holding 1 262 1 869 non-controlling interests 1 1 Total net comprehensive income 1 264 1 870 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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54 Corporate Governance In the same
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Page 64 and 65: 64 Risk Management Risk Management
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156 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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