Consolidated Statement of Income
Consolidated statement of income for the years ended 31 December
| In CHF million | ||||||
|---|---|---|---|---|---|---|
| Notes | 2022 | 2021 | ||||
| Income | ||||||
| Premiums earned on insurance contracts | 13 681 | 13 778 | ||||
| Premiums earned on investment contracts with discretionary participation | 753 | 790 | ||||
| Premiums ceded to reinsurers | –527 | –179 | ||||
| Net earned premiums | 7 | 13 907 | 14 389 | |||
| Policy fees earned on insurance contracts | 31 | 35 | ||||
| Policy fees earned on investment and unit-linked contracts | 392 | 408 | ||||
| Net earned policy fees | 7 | 423 | 443 | |||
| Commission income | 8 | 1 947 | 1 853 | |||
| Investment income | 5, 8 | 3 917 | 3 918 | |||
| Net gains/losses on financial assets | 5, 8 | –903 | 715 | |||
| Net gains/losses on financial instruments at fair value through profit or loss | 5, 8 | 713 | –953 | |||
| Net gains/losses on investment property | 5, 14 | 1 047 | 1 505 | |||
| Share of profit or loss of associates | 5, 15 | 0 | 8 | |||
| Other income | 8 | 307 | 340 | |||
| Total income | 21 358 | 22 219 | ||||
| Expenses | ||||||
| Benefits and claims under insurance contracts | –12 956 | –13 658 | ||||
| Benefits and claims under investment contracts with discretionary participation | –742 | –800 | ||||
| Benefits and claims recovered from reinsurers | 405 | 115 | ||||
| Net insurance benefits and claims | 8 | –13 294 | –14 343 | |||
| Policyholder participation | –1 903 | –2 001 | ||||
| Interest expense | 8 | –180 | –172 | |||
| Commission expense | 8 | –1 567 | –1 520 | |||
| Employee benefits expense | 8 | –1 255 | –1 210 | |||
| Depreciation and amortisation expense | 8 | –274 | –466 | |||
| Impairment of property and equipment and intangible assets | 16, 17 | –2 | –15 | |||
| Other expenses | 8 | –830 | –709 | |||
| Total expenses | –19 304 | –20 435 | ||||
| Profit from operations | 2 054 | 1 783 | ||||
| Borrowing costs | –120 | –121 | ||||
| Profit before income tax | 1 934 | 1 663 | ||||
| Income tax expense | 24 | –479 | –406 | |||
| Net profit | 1 455 | 1 257 | ||||
| Net profit attributable to | ||||||
| equity holders of Swiss Life Holding | 1 449 | 1 247 | ||||
| non-controlling interests | 6 | 10 | ||||
| Net profit | 1 455 | 1 257 | ||||
| Earnings per share attributable to equity holders of Swiss Life Holding | ||||||
| Basic earnings per share (in CHF) | 6 | 47.90 | 40.05 | |||
| Diluted earnings per share (in CHF) | 6 | 47.76 | 39.93 | |||