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23First-Half Financial Report 2008Condensed Financial StatementsCondensed Notes to the Consolidated Financial Statements (unaudited)6 Details of Certain Items in the Consolidated Statement of IncomeAsset management and other commission incomeIn CHF million 2008 HY 2007 HYFiduciary and portfolio management fees 48 52Brokerage commissions 253 2Fees earned on loans and deposits 1 0Other commissions and fees 48 50Total asset management and other commission income 350 104Investment incomeIn CHF million 2008 HY 2007 HYInterest income on financial assets held to maturity and available for sale 1 271 1 394Interest income on loans 414 442Other interest income 105 121Dividend income on financial assets available for sale 336 395Net income on investment property 274 254Total investment income 2 400 2 606Net gains/losses on financial assetsIn CHF million Notes 2008 HY 2007 HYSale offinancial assets held to maturity – –financial assets available for sale –300 133loans 15 0Net gains/losses from sales –285 133Impairment losses onfinancial assets held to maturity – –financial assets available for sale 9 –847 –3loans 10 3receivables –2 –1Impairment losses on financial assets –839 –1Foreign currency gains/losses –1 142 614Total net gains/losses on financial assets –2 266 746Net gains/losses on financial instruments at fair value through profit or lossIn CHF million 2008 HY 2007 HYNet gains/losses on derivatives and other financial instruments held for tradingInterest rate instruments 10 47Equity instruments 309 73Foreign currency and other instruments 1 015 –607Total net gains/losses on derivatives and other financial instruments held for trading 1 334 –487Net gains/losses on financial instruments designated as at fair value through profit or lossFinancial assets –1 495 1 391Financial liabilities 1 201 –925Total net gains/losses on financial instruments designated as at fair value through profit or loss –294 466Total net gains/losses on financial instruments at fair value through profit or loss 1 040 –21
246 Details of Certain Items in the Consolidated Statement of Income (continued)Other incomeIn CHF million 2008 HY 2007 HYRealised gains/losses on sales of subsidiaries and other assets 1 –3Other foreign currency gains/losses 80 –52Other 31 18Total other income 112 –37Net insurance benefits and claimsIn CHF million 2008 HY 2007 HYNet benefits and claims under insurance contractsLife benefits and claims 7 868 5 613Change in future life policyholder benefits 243 2 381Non-life claims 182 145Benefits and claims under investment contracts with discretionary participationLife benefits and claims 97 90Change in future life policyholder benefits 69 17Total net insurance benefits and claims 8 459 8 246Interest expenseIn CHF million 2008 HY 2007 HYInterest expense on deposits 24 20Interest expense on investment contracts 70 122Interest expense on deposits under insurance contracts 74 82Other interest expense 31 24Total interest expense 199 248Commission expenseIn CHF million 2008 HY 2007 HYInsurance agent and broker commissions 224 234Asset management and banking commissions 23 24Other commissions and fees 138 70Total commission expense 385 328Employee benefits expenseIn CHF million 2008 HY 2007 HYWages and salaries 303 264Social security 82 74Defined benefit plans 58 55Defined contribution plans 1 1Other employee benefits 33 40Total employee benefits expense 477 434
Page 1 and 2: 8Condensed Notes to the Consolidate
Page 3 and 4: 103 Segment InformationThe Swiss Li
Page 5 and 6: 123 Segment Information (continued)
Page 15: 225 Premiums, Policy Fees and Depos
Page 20 and 21: 27First-Half Financial Report 2008C
Page 34: 41First-Half Financial Report 2008C

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