12 Loans and Receivables
| In CHF million | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross carrying amount | Allowance for impairment losses | Carrying amount | ||||||||||||
| Notes | 31.12.2022 | 31.12.2021 | 31.12.2022 | 31.12.2021 | 31.12.2022 | 31.12.2021 | ||||||||
| Loans | ||||||||||||||
| Mortgages | 12 057 | 12 000 | –23 | –23 | 12 034 | 11 977 | ||||||||
| Note loans | 4 124 | 4 465 | – | – | 4 124 | 4 465 | ||||||||
| Corporate and other loans | 4 041 | 2 502 | – | –1 | 4 041 | 2 501 | ||||||||
| Reverse repurchase agreements | 33 | 227 | – | – | – | 227 | – | |||||||
| Debt securities previously classified as available for sale | 625 | 726 | – | – | 625 | 726 | ||||||||
| Other debt securities classified as loans | 108 | 151 | – | – | 108 | 151 | ||||||||
| Total loans | 30 | 21 183 | 19 845 | –23 | –24 | 21 160 | 19 821 | |||||||
| Receivables | ||||||||||||||
| Insurance receivables | 1 622 | 1 612 | –25 | –27 | 1 597 | 1 585 | ||||||||
| Reinsurance receivables | 513 | 433 | – | – | 513 | 433 | ||||||||
| Accrued investment income | 964 | 1 048 | – | – | 964 | 1 048 | ||||||||
| Settlement accounts | 78 | 73 | – | – | 78 | 73 | ||||||||
| Other receivables | 1 717 | 1 307 | –9 | –8 | 1 708 | 1 299 | ||||||||
| Total receivables | 30 | 4 894 | 4 474 | –35 | –35 | 4 860 | 4 439 | |||||||
| Total loans and receivables | 26 077 | 24 319 | –57 | –59 | 26 020 | 24 260 | ||||||||
Allowance for impairment losses
| In CHF million | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Individual evaluation of impairment | Collective evaluation of impairment | Total | ||||||||||
| 2022 | 2021 | 2022 | 2021 | 2022 | 2021 | |||||||
| Loans | ||||||||||||
| Balance as at 1 January | 1 | 2 | 23 | 20 | 24 | 23 | ||||||
| Impairment losses/reversals | 0 | 0 | 0 | 2 | 0 | 2 | ||||||
| Write-offs and disposals | –1 | –1 | – | – | –1 | –1 | ||||||
| Foreign currency translation differences | 0 | 0 | – | – | 0 | 0 | ||||||
| Balance as at end of period | 0 | 1 | 23 | 23 | 23 | 24 | ||||||
| Receivables | ||||||||||||
| Balance as at 1 January | 31 | 29 | 5 | 8 | 35 | 37 | ||||||
| Impairment losses/reversals | 5 | 6 | –2 | –6 | 3 | 0 | ||||||
| Write-offs and disposals | –3 | –3 | 0 | 3 | –2 | 0 | ||||||
| Foreign currency translation differences | –1 | –1 | 0 | 0 | –2 | –1 | ||||||
| Balance as at end of period | 32 | 31 | 3 | 5 | 35 | 35 | ||||||
| Total allowance for impairment losses | 32 | 32 | 26 | 27 | 57 | 59 | ||||||
Interest income accrued on impaired loans was CHF 0.04 million as at 31 December 2022 (2021: CHF 0.01 million). The Group’s loan portfolio 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 evaluation is part of the regular review to determine whether the allowance for potential loan losses is warranted. Management believes that the allowance for loan losses is sufficient. However, management cannot predict with assurance the impact of future economic circumstances or how the mortgage and real estate portfolios would be affected by various economic circumstances.
As at 1 July 2008, certain financial assets were reclassified from financial assets available for sale to loans and receivables due to the disappearance of an active market. The financial assets reclassified primarily consist of corporate debt instruments and debt instruments relating to emerging markets.
Details with regard to the financial assets reclassified are as follows.
Debt securities previously classified as available for sale
| In CHF million | ||||
|---|---|---|---|---|
| 2022 | 2021 | |||
| Carrying amount as at 31 December | 625 | 726 | ||
| Fair value as at end of period | 684 | 1 002 | ||
| Gains (+)/losses (–) that would have been recognised in other comprehensive income if the assets had not been reclassified (before policyholder participation and income tax effect) | –212 | –36 | ||
| Gains (+)/losses (–) recognised in profit or loss (including impairment) | 6 | 0 | ||
| Interest income | 48 | 49 | ||