24 Acquisitions and Disposals of Subsidiaries
Assets and liabilities from acquisitions
| In CHF million | ||||||
|---|---|---|---|---|---|---|
| Notes | 2024 | 2023 | ||||
| Consideration | ||||||
| Cash consideration | 15 | 58 | ||||
| Contingent consideration arrangement(s) | 4 | 5 | ||||
| Total consideration | 20 | 63 | ||||
| Acquisition-related costs | ||||||
| Commission expense | – | – | ||||
| Other expenses | 0 | 0 | ||||
| Total acquisition-related costs | 0 | 0 | ||||
| Identifiable assets acquired and liabilities assumed | ||||||
| Cash and cash equivalents | 2 | 5 | ||||
| Financial assets at amortised cost | 0 | 3 | ||||
| Investment property | 10 | 30 | – | |||
| Investments in associates | – | 3 | ||||
| Property and equipment | 12 | 0 | 0 | |||
| Intangible assets | 13 | 0 | 9 | |||
| Inventory property | 12 | – | ||||
| Income taxes and other assets | 0 | – | ||||
| Other financial liabilities | –40 | –6 | ||||
| Employee benefit liabilities | 0 | 0 | ||||
| Current income tax liabilities | 0 | – | ||||
| Deferred income tax liabilities | – | –3 | ||||
| Other liabilities | 0 | –1 | ||||
| Total identifiable net assets | 4 | 10 | ||||
| Non-controlling interests | 0 | – | ||||
| Goodwill | 13 | 16 | 53 | |||
| Total | 20 | 63 | ||||
| Acquired financial assets at amortised cost | ||||||
| Fair value | 0 | 3 | ||||
| Gross contractual amounts receivable | 0 | 3 | ||||
| Estimated uncollectible cash flows | 0 | 0 | ||||
In 2024, the Swiss Life Group acquired several small project development businesses in the United Kingdom and in Sweden as well as small financial advisory businesses in the United Kingdom.
In September 2023, the Swiss Life Group acquired two financial advisory businesses in the United Kingdom. In January 2023, the Swiss Life Group acquired 100% of the shares of fb research GmbH, based in Hanover, Germany, and a financial advisory business in Slovakia.
Assets and liabilities from disposals
| In CHF million | ||
|---|---|---|
| 2023 | ||
| Consideration | ||
| Consideration received in cash | 43 | |
| Total consideration | 43 | |
| Assets and liabilities disposed | ||
| Cash and cash equivalents | 6 | |
| Financial assets measured at amortised cost | 1 | |
| Inventory property and other assets | 198 | |
| Mortgage loans, deposits and other financial liabilities | –200 | |
| Current income tax liabilities | 0 | |
| Other liabilities | –10 | |
| Net assets disposed of | –5 | |
| Gain/loss on disposals | ||
| Consideration received | 43 | |
| Net assets disposed of | 5 | |
| Fair value of retained equity interest(s) | 6 | |
| Amounts recognised in other comprehensive income | 0 | |
| Non-controlling interests | 0 | |
| Gain (+)/loss (–) on disposals | 53 | |
There were no disposal of subsidiaries in 2024.
In December 2023, Swiss Life sold its share in four real estate project development units in Germany.