Annual Report 2012 - Swiss Life

More documents

Recommendations

Info

178 Consolidated Financial Statements 11 Financial Assets Available for Sale In CHF million Cost/amortised cost Net unrealised gains/losses Fair value (carrying amount) 31.12.2012 31.12.2011 31.12.2012 31.12.2011 31.12.2012 31.12.2011 Debt securities 70 696 60 733 7 917 4 110 78 613 64 843 Money market instruments 57 40 – – 57 40 Equity securities 399 493 76 44 475 537 Investment fund units – debt 88 148 3 2 91 150 Investment fund units – equity 1 051 887 16 –45 1 067 842 Investment fund units – mixed 226 220 6 7 232 227 Private equity 417 368 54 30 472 398 Hedge funds 104 149 66 78 170 227 Total financial assets available for sale 73 038 63 038 8 138 4 226 81 176 67 264 Financial assets held to maturity of CHF 1.3 billion were reclassified to financial assets available for sale in 2012. Financial assets available for sale that have been sold under a repurchase agreement or lent under an agreement to return them, and where the transferee has the right to sell or repledge the financial assets given as collateral, were reclassified to financial assets pledged as collateral. 12 Financial Assets Pledged as Collateral In CHF million Carrying amount 31.12.2012 31.12.2011 Debt securities reclassified from financial assets available for sale 964 969 Total financial assets pledged as collateral 964 969 Financial assets that have been sold under a repurchase agreement or lent under an agreement to return them, are not derecognised when substantially all the risks and rewards of ownership are retained by Swiss Life. If the transferee has the right to sell or repledge the financial assets given as collateral, they are reclassified in the balance sheet as financial assets pledged at their respective carrying amounts. Swiss Life – Annual Report 2012
179 Consolidated Financial Statements 13 Loans and Receivables In CHF million Cost/amortised cost Gross amount Allowance for impairment losses (carrying amount) Notes 31.12.2012 31.12.2011 31.12.2012 31.12.2011 31.12.2012 31.12.2011 Loans Mortgages 5 488 5 147 –24 –24 5 464 5 123 Policy loans 299 330 – – 299 330 Other originated loans 955 1 292 –8 –7 948 1 285 Note loans 7 970 8 176 – – 7 970 8 176 Debt securities previously classified as available for sale 6 434 7 976 –31 –31 6 403 7 945 Debt securities designated as loans 529 663 – – 529 663 Repurchase agreements – 93 – – – 93 Total loans 33 21 675 23 677 –63 –62 21 612 23 615 Receivables Insurance receivables 1 180 972 –19 –23 1 162 949 Reinsurance receivables 240 167 – – 240 167 Accrued income 1 651 1 758 – – 1 651 1 758 Settlement accounts 40 172 – – 40 172 Other 784 542 –1 –1 783 541 Total receivables 33 3 895 3 611 –20 –24 3 876 3 587 Total loans and receivables 25 570 27 288 –82 –86 25 488 27 202 Allowance for impairment losses In CHF million Individual Collective evaluation of impairment evaluation of impairment Total 2012 2011 2012 2011 2012 2011 Loans Balance as at 1 January 53 70 9 9 62 79 Impairment losses 1 0 – 0 1 0 Write-offs 0 –17 – 0 0 –17 Foreign currency translation differences 0 0 – – 0 0 Balance as at end of period 54 53 9 9 63 62 Receivables Balance as at 1 January 7 8 17 16 24 24 Impairment losses 2 2 4 2 6 4 Write-offs –3 –3 –7 –1 –10 –4 Foreign currency translation differences 0 0 0 0 0 0 Balance as at end of period 5 7 14 17 20 24 Total allowance for impairment losses 59 60 23 26 82 86 Interest income accrued on impaired loans was CHF 1 million as at 31 December 2012 (2011: CHF 1 million). The Group’s loan port folio is monitored closely through the review of information such as debt service, annual reports and assessments. This information is evaluated in light of current economic conditions and other factors such as diversification of the property portfolio. This evalua- Swiss Life – Annual Report 2012
Page 1:
Swiss Life Group annual report 2012
Page 4 and 5:
4 Facts & Figures The Swiss Life
Page 6 and 7:
6 Shareholder’s Letter Dear Share
Page 8 and 9:
8 Summary of Group results Summary
Page 10 and 11:
Amounts in CHF million 2012 2011 +/
Page 12 and 13:
12 Segment Reporting Segment Report
Page 14 and 15:
14 Segment Reporting New products l
Page 16 and 17:
16 Segment Reporting insurance Fran
Page 18 and 19:
18 Segment Reporting insurance Germ
Page 20 and 21:
20 Segment Reporting insurance inte
Page 22 and 23:
22 Segment Reporting Investment Man
Page 24 and 25:
24 Segment Reporting AWD The AWD Gr
Page 26 and 27:
26 Corporate Governance Corporate G
Page 28 and 29:
28 Corporate Governance Talanx AG,
Page 30 and 31:
30 Corporate Governance decreased t
Page 32 and 33:
32 Corporate Governance The accepta
Page 34 and 35:
34 Corporate Governance FRANK SCHNE
Page 36 and 37:
36 Corporate Governance HENRY PETER
Page 38 and 39:
38 Corporate Governance The Board o
Page 40 and 41:
40 Corporate Governance also regula
Page 42 and 43:
42 Corporate Governance Management
Page 44 and 45:
44 Corporate Governance MEMBERS OF
Page 46 and 47:
46 Corporate Governance Other appoi
Page 48 and 49:
48 Corporate Governance Transfer of
Page 50 and 51:
50 Corporate Governance The Board o
Page 52 and 53:
52 Corporate Governance COMPENSATIO
Page 54 and 55:
54 Corporate Governance In the same
Page 56 and 57:
56 Corporate Governance The number
Page 58 and 59:
58 Corporate Governance HIGHEST TOT
Page 60 and 61:
60 Corporate Governance Shareholder
Page 62 and 63:
62 Corporate Governance SUPERVISORY
Page 64 and 65:
64 Risk Management Risk Management
Page 66 and 67:
66 Market Consistent Embedded Value
Page 68 and 69:
Page 70 and 71:
In CHF million 2012 2011 70 Market
Page 72 and 73:
Page 74 and 75:
Page 76 and 77:
Page 78 and 79:
Page 80 and 81:
Page 82 and 83:
Page 84 and 85:
In CHF million Switzerland France G
Page 86 and 87:
Page 88 and 89:
Page 90 and 91:
Page 92 and 93:
Page 94 and 95:
Page 96 and 97:
Page 98 and 99:
Page 100 and 101:
100 Market Consistent Embedded Valu
Page 102 and 103:
102 Market Consistent Embedded Valu
Page 104 and 105:
104 Consolidated Financial Statemen
Page 106 and 107:
In CHF million Notes 2012 2011 106
Page 108 and 109:
In CHF million Notes 31.12.2012 31.
Page 110 and 111:
In CHF million 2012 2011 110 Consol
Page 112 and 113:
Page 114 and 115:
Page 116 and 117:
Page 118 and 119:
Page 120 and 121:
Page 122 and 123:
Page 124 and 125:
Page 126 and 127:
Page 128 and 129: 128 Consolidated Financial Statemen
Page 146 and 147: In CHF million Notes 31.12.2012 31.
Page 158 and 159: In CHF million CHF EUR USD GBP JPY
Page 164 and 165: In CHF million 31.12.2012 31.12.201
Page 170 and 171: In CHF million 2012 2011 In CHF mil
Page 172 and 173: In CHF million Notes 2012 2011 In C
Page 174 and 175: In CHF million Notes 2012 2011 In C
Page 180 and 181: In CHF million 2012 2011 180 Consol
Page 194 and 195: In CHF million 2012 2011 194 Consol
Page 204 and 205: Number of shares 2012 2011 204 Cons
Page 208 and 209: In CHF million 2012 208 Consolidate
Page 210 and 211: In CHF million 01.04.2011 210 Conso
Page 226 and 227: 226 Swiss Life Holding Financial St
Page 228 and 229:
In CHF million 2012 2011 228 Swiss
Page 230 and 231:
As % of total share capital 31.12.2
Page 232 and 233:
In CHF million 2012 2011 232 Swiss
Page 234 and 235:
234 Swiss Life Holding Financial St
Page 236 and 237:
Page 238 and 239:
Page 240 and 241:
Page 242 and 243:
Page 244 and 245:
Page 246 and 247:
Page 248 and 249:
Page 250 and 251:
250 Share Performance and Historica
Page 252 and 253:
252 Contacts and Publishing Details
Page 254:
130 286 The future starts here. Swi
show all

Annual Report 2012 - Swiss Life

Create successful ePaper yourself

Delete template?

Save as template?