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Group financial years 2004 – 2013

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USD millions

20041,3

20053

20062,3

20072,3

20082,3

20092,3

20102

20112

20122,4

2013

1

Numbers are based on the Group’s previous accounting standards.

2

Trading revenues are included in net investment income; long-term debt also includes debt positions from former Financial Markets.

3

The Group changed its reporting currency from CHF into USD in 2010. Periods prior to 2010 have been translated to USD for informational purposes only based on the Group’s average exchange rates for the income statements and year-end rates for the balance sheets.

4

The Group updated its balance sheet presentation of deferred tax assets and liabilities. Deferred tax assets and liabilities are presented on a gross basis as per the first quarter 2013. The comparative period has been adjusted accordingly and is consistent with the relevant income tax disclosure in the notes to the financial statements in the prior year.

Income statement

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

 

 

 

 

 

 

 

 

 

Premiums earned

23 607

21 622

23 526

26 337

23 577

22 664

19 652

21 300

24 661

28 276

Fee income

 

708

701

794

746

847

918

876

785

542

Net investment income

3 895

4 934

6 370

8 893

7 331

6 399

5 422

5 469

5 302

4 735

Net realised investment gains/losses

895

2 793

1 679

–615

–8 677

875

2 783

388

2 688

3 325

Trading revenues

351

278

 

 

 

 

 

 

 

 

Other revenues

195

228

223

251

249

178

60

50

188

24

Total revenues

28 943

30 563

32 499

35 660

23 226

30 963

28 835

28 083

33 624

36 902

 

 

 

 

 

 

 

 

 

 

 

Expenses

 

 

 

 

 

 

 

 

 

 

Claims and claim adjustment expenses

–11 109

–11 866

–9 405

–10 035

–9 222

–8 336

–7 254

–8 810

–7 763

–9 655

Life and health benefits

–7 482

–6 970

–7 647

–9 243

–8 381

–8 639

–8 236

–8 414

–8 878

–9 581

Return credited to policyholders

 

–2 427

–2 253

–1 763

2 611

–4 597

–3 371

–61

–2 959

–3 678

Acquisition costs

–5 072

–4 766

–4 845

–5 406

–4 950

–4 495

–3 679

–4 021

–4 548

–4 895

Amortisation of goodwill

–222

 

 

 

 

 

 

 

 

 

Other operating costs and expenses

–2 358

–2 477

–3 679

–4 900

–4 358

–3 976

–3 620

–3 902

–3 953

–4 268

Total expenses

–26 243

–28 506

–27 829

–31 347

–24 300

–30 043

–26 160

–25 208

–28 101

–32 077

 

 

 

 

 

 

 

 

 

 

 

Income/loss before income tax expense

2 700

2 057

4 670

4 313

–1 074

920

2 675

2 875

5 523

4 825

Income tax expense

–715

–205

–1 033

–853

411

–221

–541

–77

–1 125

–312

Net income/loss before attribution of non-controlling interests

1 985

1 852

3 637

3 460

–663

699

2 134

2 798

4 398

4 513

 

 

 

 

 

 

 

 

 

 

 

Income/loss attributable to non-controlling interests

 

 

 

 

 

 

–154

–172

–141

–2

Net income after attribution of non-controlling interests

1 985

1 852

3 637

3 460

–663

699

1 980

2 626

4 257

4 511

 

 

 

 

 

 

 

 

 

 

 

Interest on contingent capital instruments

 

 

 

 

 

–203

–1 117

0

–56

–67

Net income/loss attributable to common shareholders

1 985

1 852

3 637

3 460

–663

496

863

2 626

4 201

4 444

 

 

 

 

 

 

 

 

 

 

 

Balance sheet

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets

 

 

 

 

 

 

 

 

 

 

Investments

94 998

99 094

167 303

201 221

154 053

151 341

156 947

162 224

152 812

150 075

Other assets

67 203

68 817

71 317

70 198

71 322

81 407

71 456

63 675

68 691

63 445

Total assets

162 201

167 911

238 620

271 419

225 375

232 748

228 403

225 899

221 503

213 520

 

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

Unpaid claims and claim adjustment expenses

54 189

54 447

77 829

78 195

70 944

68 412

64 690

64 878

63 670

61 484

Liabilities for life and health policy benefits

38 025

23 583

36 779

44 187

37 497

39 944

39 551

39 044

36 117

36 033

Unearned premiums

5 055

4 980

6 574

6 821

7 330

6 528

6 305

8 299

9 384

10 334

Other liabilities

43 409

61 953

80 802

95 172

73 366

73 336

72 524

65 850

62 020

57 970

Long-term debt

4 657

4 440

11 337

18 898

17 018

19 184

18 427

16 541

16 286

14 722

Total liabilities

145 335

149 403

213 321

243 273

206 155

207 404

201 497

194 612

187 477

180 543

 

 

 

 

 

 

 

 

 

 

 

Shareholders’ equity

16 866

18 508

25 299

28 146

19 220

25 344

25 342

29 590

34 002

32 952

 

 

 

 

 

 

 

 

 

 

 

Non-controlling interests

 

 

 

 

 

 

1 564

1 697

24

25

Total equity

16 866

18 508

25 299

28 146

19 220

25 344

26 906

31 287

34 026

32 977

 

 

 

 

 

 

 

 

 

 

 

Earnings/losses per share in USD

6.42

5.98

10.75

9.94

–2.00

1.46

2.52

7.68

11.85

12.97

Earnings/losses per share in CHF

8.00

7.44

13.49

11.95

–2.61

1.49

2.64

6.79

11.13

12.04