Balance sheet
For the years ended 31 December
Assets
| Download |
|
USD millions |
Note |
2012 |
2013 |
|
Investments |
|
|
|
|
Fixed income securities: |
|
|
|
|
Available-for-sale, at fair value (including 9 529 in 2012 and 11 720 in 2013 subject to securities lending and repurchase agreements) (amortised cost: 2012: 80 594; 2013: 76 349) |
|
86 974 |
77 761 |
|
Trading (including 196 in 2012 and 1 in 2013 subject to securities lending and repurchase agreements) |
|
1 874 |
1 535 |
|
Equity securities: |
|
|
|
|
Available-for-sale, at fair value (including 0 in 2012 and 65 in 2013 subject to securities lending and repurchase agreements) (cost: 2012: 2 789; 2013: 6 110) |
3 102 |
7 076 |
|
|
Trading |
|
672 |
615 |
|
Policy loans, mortgages and other loans |
|
2 299 |
2 895 |
|
Investment real estate |
|
777 |
825 |
|
Short-term investments, at amortised cost which approximates fair value (including 3 464 in 2012 and 4 425 in 2013 subject to securities lending and repurchase agreements) |
18 645 |
20 989 |
|
|
Other invested assets |
|
12 968 |
11 164 |
|
Investments for unit-linked and with-profit business (including fixed income securities trading: 4 630 in 2012 and 4 585 in 2013, equity securities trading: 18 617 in 2012 and 21 180 in 2013) |
25 501 |
27 215 |
|
|
Total investments |
|
152 812 |
150 075 |
|
|
|
|
|
|
Cash and cash equivalents (including 75 in 2012 and 4 in 2013 subject to securities lending) |
|
10 837 |
8 072 |
|
Accrued investment income |
|
1 050 |
1 018 |
|
Premiums and other receivables |
|
11 529 |
12 276 |
|
Reinsurance recoverable on unpaid claims and policy benefits |
|
10 109 |
8 327 |
|
Funds held by ceding companies |
|
13 245 |
12 400 |
|
Deferred acquisition costs |
4 039 |
4 756 |
|
|
Acquired present value of future profits |
3 023 |
3 537 |
|
|
Goodwill |
|
4 092 |
4 109 |
|
Income taxes recoverable |
|
467 |
490 |
|
Deferred tax assets |
|
5 718 |
5 763 |
|
Other assets |
|
4 582 |
2 697 |
|
|
|
|
|
|
Total assets |
|
221 503 |
213 520 |
Liabilities and equity
| Download |
|
USD millions |
Note |
2012 |
2013 |
||||
|
|||||||
|
Liabilities |
|
|
|
||||
|
Unpaid claims and claim adjustment expenses |
|
63 670 |
61 484 |
||||
|
Liabilities for life and health policy benefits |
36 117 |
36 033 |
|||||
|
Policyholder account balances |
|
29 349 |
31 177 |
||||
|
Unearned premiums |
|
9 384 |
10 334 |
||||
|
Funds held under reinsurance treaties |
|
3 642 |
3 551 |
||||
|
Reinsurance balances payable |
|
3 754 |
2 370 |
||||
|
Income taxes payable |
|
604 |
660 |
||||
|
Deferred and other non-current tax liabilities1 |
|
9 442 |
8 242 |
||||
|
Short-term debt |
3 612 |
3 818 |
|||||
|
Accrued expenses and other liabilities |
|
11 617 |
8 152 |
||||
|
Long-term debt |
16 286 |
14 722 |
|||||
|
Total liabilities |
|
187 477 |
180 543 |
||||
|
|
|
|
|
||||
|
Equity |
|
|
|
||||
|
Contingent capital instruments |
1 102 |
1 102 |
|||||
|
Common stock, CHF 0.10 par value |
|
|
|
||||
|
2012: 370 706 931; 2013: 370 706 931 shares authorised and issued2 |
35 |
35 |
|||||
|
Additional paid-in capital |
|
7 721 |
4 963 |
||||
|
Treasury shares, net of tax |
|
–995 |
–1 099 |
||||
|
|
|
|
|
||||
|
Accumulated other comprehensive income: |
|
|
|
||||
|
Net unrealised investment gains/losses, net of tax |
|
4 407 |
1 622 |
||||
|
Other-than-temporary impairment, net of tax |
|
–28 |
–6 |
||||
|
Cumulative translation adjustments, net of tax |
|
–3 609 |
–3 897 |
||||
|
Accumulated adjustment for pension and post-retirement benefits, net of tax |
–953 |
–534 |
|||||
|
Total accumulated other comprehensive income |
|
–183 |
–2 815 |
||||
|
|
|
|
|
||||
|
Retained earnings |
|
26 322 |
30 766 |
||||
|
Shareholders’ equity |
|
34 002 |
32 952 |
||||
|
|
|
|
|
||||
|
Non-controlling interests |
|
24 |
25 |
||||
|
Total equity |
|
34 026 |
32 977 |
||||
|
|
|
|
|
||||
|
Total liabilities and equity |
|
221 503 |
213 520 |
||||
The accompanying notes are an integral part of the Group financial statements.