29 Related Party Transactions
Consolidated statement of income
| In CHF million | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Associates | Key management personnel | Other | Total | Total | ||||||
| 2021 | 2020 | |||||||||
| Net earned premiums | – | – | – | – | 0 | |||||
| Asset management and other commission income | 1 | – | – | 1 | 1 | |||||
| Investment income | 0 | – | – | 0 | 0 | |||||
| Other income | 0 | – | – | 0 | 2 | |||||
| Net insurance benefits and claims | – | – | – | – | 0 | |||||
| Policyholder participation | – | – | – | – | 0 | |||||
| Employee benefits expense | – | – | – | – | –20 | |||||
Consolidated balance sheet
| In CHF million | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Associates | Key management personnel | Other | Total | Total | ||||||
| 31.12.2021 | 31.12.2020 | |||||||||
| Loans and receivables | 27 | – | – | 27 | 37 | |||||
| Other assets | – | – | – | – | – | |||||
| Other financial liabilities | –2 | – | – | –2 | –1 | |||||
| Insurance liabilities | – | – | – | – | – | |||||
| Policyholder participation liabilities | – | – | – | – | – | |||||
For the years ended 31 December 2021 and 2020, 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.
Guarantees and commitments
| In CHF million | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Associates | Key management personnel | Other | Total | Total | ||||||
| 31.12.2021 | 31.12.2020 | |||||||||
| Commitments | – | – | 0 | 0 | 0 | |||||
Key management compensation
| In CHF million | ||||
|---|---|---|---|---|
| 2021 | 2020 | |||
| Short-term employee benefits | 14 | 13 | ||
| Post-employment benefits | 2 | 2 | ||
| Equity-settled share-based payments | 5 | 5 | ||
| Total | 21 | 20 | ||
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 Article 663bbis of the Swiss Code of Obligations or the Ordinance against Excessive Compensation in Listed Stock Companies (Compensation Ordinance, VegüV), respectively, are set out in the Compensation Report, which forms part of the Corporate Governance section of the Annual Report 2021 of the Swiss Life Group. The information according to Article 663c of the Swiss Code of Obligations is shown in the Notes to the Swiss Life Holding Financial Statements.