Income statement

For the years ended 31 December

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USD millions

Note

2012

2013

1

The translation from USD to CHF is shown for informational purposes only and has been calculated using the Group’s average exchange rates.

Revenues

 

 

 

Premiums earned

8

24 661

28 276

Fee income from policyholders

8

785

542

Net investment income – non-participating

2

4 473

3 947

Net realised investment gains/losses – non-participating business (total impairments for the years ended 31 December were 215 in 2012 and 41 in 2013, of which 162 and 41, respectively, were recognised in earnings)

2

947

766

Net investment result – unit-linked and with-profit

2

2 570

3 347

Other revenues

 

188

24

Total revenues

 

33 624

36 902

 

 

 

 

Expenses

 

 

 

Claims and claim adjustment expenses

8

–7 763

–9 655

Life and health benefits

8

–8 878

–9 581

Return credited to policyholders

 

–2 959

–3 678

Acquisition costs

8

–4 548

–4 895

Other expenses

 

–3 217

–3 508

Interest expenses

 

–736

–760

Total expenses

 

–28 101

–32 077

 

 

 

 

Income before income tax expense

 

5 523

4 825

Income tax expense

11

–1 125

–312

Net income before attribution of non-controlling interests

 

4 398

4 513

 

 

 

 

Income attributable to non-controlling interests

 

–141

–2

Net income after attribution of non-controlling interests

 

4 257

4 511

 

 

 

 

Interest on contingent capital instruments

 

–56

–67

Net income attributable to common shareholders

 

4 201

4 444

 

 

 

 

Earnings per share in USD

 

 

 

Basic

10

11.85

12.97

Diluted

10

11.06

11.89

Earnings per share in CHF1

 

 

 

Basic

10

11.13

12.04

Diluted

10

10.39

11.04

The accompanying notes are an integral part of the Group financial statements.