Consolidated Statement of Cash Flows
Consolidated statement of cash flows for the years ended 31 December
| In CHF million | ||||||
|---|---|---|---|---|---|---|
| 2025 | 2024 | |||||
| Cash flows from operating activities | ||||||
| Premiums, policy fees and deposits received, including investment components | 20 203 | 19 864 | ||||
| Insurance service expenses and insurance acquisition costs paid, including investment components | –21 469 | –23 522 | ||||
| Interest received | 2 678 | 2 900 | ||||
| Dividends received | 709 | 740 | ||||
| Commissions received | 1 970 | 1 890 | ||||
| Rentals received | 1 462 | 1 434 | ||||
| Interest paid on borrowings and other liabilities | –324 | –412 | ||||
| Commissions, employee benefit and other payments | –2 248 | –3 243 | ||||
| Net cash flows from | ||||||
| derivatives | –181 | –1 541 | ||||
| financial assets measured at fair value through profit or loss | 288 | –4 164 | ||||
| financial assets measured at fair value through other comprehensive income | –578 | 4 616 | ||||
| financial assets measured at amortised cost | –287 | 996 | ||||
| investment property | –99 | 181 | ||||
| other financial liabilities | 406 | 743 | ||||
| other operating assets and liabilities | –439 | 52 | ||||
| Income taxes paid | –388 | –347 | ||||
| Total net cash flows from operating activities | 1 704 | 186 | ||||
Consolidated statement of cash flows for the years ended 31 December
| In CHF million | ||||||
|---|---|---|---|---|---|---|
| Notes | 2025 | 2024 | ||||
| Total net cash flows from operating activities | 1 704 | 186 | ||||
| Cash flows from investing activities | ||||||
| Purchases of investments in associates | –66 | –326 | ||||
| Sales of investments in associates | 9 | – | ||||
| Dividends received from associates | 11 | 22 | 3 | |||
| Purchases of property and equipment | –86 | –110 | ||||
| Sales of property and equipment | 17 | 1 | ||||
| Purchases of computer software and other intangible assets | –21 | –20 | ||||
| Acquisitions of subsidiaries, net of cash and cash equivalents | 24 | –15 | –13 | |||
| Total net cash flows from investing activities | –140 | –465 | ||||
| Cash flows from financing activities | ||||||
| Issuance of debt instruments | 17 | 1 293 | 1 669 | |||
| Redemption of debt instruments | 17 | –954 | –600 | |||
| Lease principal payments 1 | 17 | –38 | –40 | |||
| Repayment of hybrid equity | – | –425 | ||||
| Purchases of treasury shares | –525 | –214 | ||||
| Purchases of non-controlling interests | –8 | – | ||||
| Capital contributions/withdrawals from non-controlling interests | –3 | 3 | ||||
| Interest paid on hybrid equity | –4 | –13 | ||||
| Dividends paid to equity holders of Swiss Life Holding | 1 | –991 | –945 | |||
| Dividends paid to non-controlling interests | –12 | –15 | ||||
| Total net cash flows from financing activities | –1 243 | –580 | ||||
| Total change in cash and cash equivalents | 321 | –859 | ||||
| Cash and cash equivalents as at 1 January | 5 055 | 5 888 | ||||
| Foreign currency differences | –110 | 27 | ||||
| Total change in cash and cash equivalents | 321 | –859 | ||||
| Total cash and cash equivalents as at end of period | 5 266 | 5 055 | ||||
| Components of cash and cash equivalents | ||||||
| Cash on hand and demand deposits | 5 207 | 4 591 | ||||
| Cash equivalents | 59 | 464 | ||||
| Total cash and cash equivalents as at end of period | 5 266 | 5 055 | ||||
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1 Total cash outflow for leases: CHF 45 million (2024: CHF 46 million)
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