Annual Report 2012 - Swiss Life

In CHF million
2012 2011
211 Consolidated Financial Statements
32 Related Party Transactions
Consolidated statement of income
In CHF million
Key
management
Associates personnel Other Total Total
2012 2011
Asset management and other income 1 – – 1 0
Investment income 0 – – 0 1
Interest expense – – 0 0 0
Employee benefits expense – –18 – –18 –18
Other expenses – – – – 0
Consolidated balance sheet
In CHF million
Key
management
Associates personnel Other Total Total
31.12.2012 31.12.2011
Loans and receivables 22 – – 22 21
Borrowings – – –1 –1 –1
Other financial liabilities –3 – – –3 –
Outstanding balances at year-end are unsecured and settlement is made in cash. There have been no
guarantees provided or received for any related party receivables. For the years ended 31 December
2012 and 2011, no impairment allowance has been made for doubtful debts in respect of the amounts
owed by related parties. This assessment is undertaken each financial year by examining the financial
position of the related party and the market in which the related party operates.
Key management compensation
Short-term employee benefits 13 13
Post-employment benefits 2 2
Equity-settled share-based payments 3 3
Total 18 18
Key management comprises the members of the Board of Directors of Swiss Life Holding and the
members of the Corporate Executive Board of Swiss Life Holding. These individuals have the authority
and responsibility for planning, directing and controlling the activities of the Swiss Life Group,
directly or indirectly.
The details regarding key management compensation in accordance with the Swiss Code of Obligations,
article 663b bis and article 663c, are set out in the Swiss Life Holding financial statements.
Swiss Life – Annual Report 2012