25 Related Party Transactions
Consolidated statement of income
| In CHF million | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Associates | Key management personnel | Other | Total | Total | ||||||
| 2023 | 2022 | |||||||||
| Asset management and other commission income | 1 | – | – | 1 | 1 | |||||
| Net investment result | 0 | – | – | 0 | 0 | |||||
| Other income | 0 | – | – | 0 | 1 | |||||
| Other expenses | –1 | – | – | –1 | – | |||||
Consolidated balance sheet
| In CHF million | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Associates | Key management personnel | Other | Total | Total | ||||||
| 31.12.2023 | 31.12.2022 | |||||||||
| Financial assets | 12 | – | – | 12 | 12 | |||||
| Other assets | – | – | – | – | 0 | |||||
| Other financial liabilities | –1 | – | – | –1 | –1 | |||||
For the years ended 31 December 2023 and 2022, 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 | ||||||
| 31.12.2023 | 31.12.2022 | |||||||||
| Financial guarantees issued | 5 | – | – | 5 | – | |||||
| Commitments | – | – | 0 | 0 | 0 | |||||
Key management compensation
| In CHF million | ||||
|---|---|---|---|---|
| 2023 | 2022 | |||
| Short-term employee benefits | 14 | 14 | ||
| Post-employment benefits | 2 | 2 | ||
| Equity-settled share-based payments | 5 | 5 | ||
| Total | 21 | 21 | ||
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 734 – 734f of the Swiss Code of Obligations are set out in the Compensation Report, which forms part of the Corporate Governance section of the Annual Report 2023 of the Swiss Life Group.