15 Investment Contracts without Discretionary Participation
Investment contracts without discretionary participation
| In CHF million | ||||
|---|---|---|---|---|
| 2025 | 2024 | |||
| Balance as at 1 January | 18 126 | 18 201 | ||
| Deposits received | 527 | 530 | ||
| Fair value changes | 326 | 1 349 | ||
| Interest and bonuses credited | 0 | –1 | ||
| Policy fees and other charges | –51 | –53 | ||
| Deposits released | –1 677 | –2 140 | ||
| Other movements | –45 | –21 | ||
| Foreign currency translation differences | –304 | 262 | ||
| Balance as at end of period | 16 902 | 18 126 | ||
Contracts that do not contain significant insurance risk and do not have discretionary participation features are carried at amortised cost or fair value.