24 Acquisitions and Disposals of Subsidiaries
Assets and liabilities from acquisitions
| In CHF million | ||||||
|---|---|---|---|---|---|---|
| Notes | 2025 | 2024 | ||||
| Consideration | ||||||
| Cash consideration | 16 | 15 | ||||
| Contingent consideration arrangement(s) | 5 | 4 | ||||
| Total consideration | 21 | 20 | ||||
| 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 | 1 | 2 | ||||
| Financial assets at amortised cost | 1 | 0 | ||||
| Investment property | 10 | – | 30 | |||
| Property and equipment | 12 | 1 | 0 | |||
| Intangible assets | 13 | 3 | 0 | |||
| Inventory property | – | 12 | ||||
| Income taxes and other assets | 1 | 0 | ||||
| Financial liabilities | –4 | –40 | ||||
| Other liabilities | –1 | 0 | ||||
| Total identifiable net assets | 2 | 4 | ||||
| Non-controlling interests | –1 | 0 | ||||
| Goodwill | 13 | 20 | 16 | |||
| Total | 21 | 20 | ||||
| Acquired financial assets at amortised cost | ||||||
| Fair value | 1 | 0 | ||||
| Gross contractual amounts receivable | 1 | 0 | ||||
| Estimated uncollectible cash flows | 0 | 0 | ||||
In the second half of 2025, two small financial advisory businesses in Slovakia and Switzerland were acquired. In March 2025, the Swiss Life Group acquired ZWEI Wealth Experts AG, Zurich, a wealth management operation.
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.
There were no disposals of subsidiaries in 2025 and 2024.