Income statement
For the years ended 31 December
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USD millions |
Note |
2012 |
2013 |
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Revenues |
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Premiums earned |
24 661 |
28 276 |
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Fee income from policyholders |
785 |
542 |
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Net investment income – non-participating |
4 473 |
3 947 |
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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) |
947 |
766 |
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Net investment result – unit-linked and with-profit |
2 570 |
3 347 |
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Other revenues |
|
188 |
24 |
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Total revenues |
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33 624 |
36 902 |
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Expenses |
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Claims and claim adjustment expenses |
–7 763 |
–9 655 |
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Life and health benefits |
–8 878 |
–9 581 |
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Return credited to policyholders |
|
–2 959 |
–3 678 |
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Acquisition costs |
–4 548 |
–4 895 |
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Other expenses |
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–3 217 |
–3 508 |
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Interest expenses |
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–736 |
–760 |
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Total expenses |
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–28 101 |
–32 077 |
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Income before income tax expense |
|
5 523 |
4 825 |
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Income tax expense |
–1 125 |
–312 |
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Net income before attribution of non-controlling interests |
|
4 398 |
4 513 |
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Income attributable to non-controlling interests |
|
–141 |
–2 |
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Net income after attribution of non-controlling interests |
|
4 257 |
4 511 |
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Interest on contingent capital instruments |
|
–56 |
–67 |
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Net income attributable to common shareholders |
|
4 201 |
4 444 |
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Earnings per share in USD |
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Basic |
11.85 |
12.97 |
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Diluted |
11.06 |
11.89 |
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Earnings per share in CHF1 |
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Basic |
11.13 |
12.04 |
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Diluted |
10.39 |
11.04 |
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The accompanying notes are an integral part of the Group financial statements.