Balance sheet
As of 31 December
Assets
| Download |
USD millions |
Note |
2014 |
2015 |
Investments |
|
|
|
Fixed income securities: |
|
|
|
Available-for-sale, at fair value (including 12 677 in 2014 and 11 897 in 2015 subject to securities lending and repurchase agreements) (amortised cost: 2014: 77 867; 2015: 76 155) |
|
84 450 |
79 435 |
Trading (including 645 in 2014 and 1 729 in 2015 subject to securities lending and repurchase agreements) |
|
2 219 |
2 896 |
Equity securities: |
|
|
|
Available-for-sale, at fair value (including 311 in 2014 and 605 in 2015 subject to securities lending and repurchase agreements) (cost: 2014: 3 133; 2015: 4 294) |
|
4 024 |
4 719 |
Trading |
|
65 |
68 |
Policy loans, mortgages and other loans |
|
3 205 |
3 123 |
Investment real estate |
|
888 |
1 556 |
Short-term investments, at fair value (including 3 217 in 2014 and 1 278 in 2015 subject to securities lending and repurchase agreements) |
|
14 127 |
7 405 |
Other invested assets |
|
9 684 |
10 367 |
Investments for unit-linked and with-profit business (including fixed income securities trading: 3 680 in 2014 and 4 069 in 2015, equity securities trading: 20 045 in 2014 and 22 783 in 2015) |
|
25 325 |
28 241 |
Total investments |
|
143 987 |
137 810 |
|
|
|
|
Cash and cash equivalents (including 65 in 2014 and 319 in 2015 subject to securities lending) |
|
7 471 |
8 204 |
Accrued investment income |
|
1 049 |
983 |
Premiums and other receivables |
|
12 265 |
11 709 |
Reinsurance recoverable on unpaid claims and policy benefits |
|
6 950 |
6 578 |
Funds held by ceding companies |
|
11 222 |
9 870 |
Deferred acquisition costs |
4 840 |
5 471 |
|
Acquired present value of future profits |
3 297 |
2 964 |
|
Goodwill |
|
4 025 |
3 862 |
Income taxes recoverable |
|
212 |
191 |
Deferred tax assets |
|
6 118 |
5 970 |
Other assets |
|
3 025 |
2 523 |
|
|
|
|
Total assets |
|
204 461 |
196 135 |
Liabilities and equity
| Download |
USD millions |
Note |
2014 |
2015 |
Liabilities |
|
|
|
Unpaid claims and claim adjustment expenses |
|
57 954 |
55 518 |
Liabilities for life and health policy benefits |
33 605 |
30 131 |
|
Policyholder account balances |
|
29 242 |
31 422 |
Unearned premiums |
|
10 576 |
10 869 |
Funds held under reinsurance treaties |
|
3 385 |
3 320 |
Reinsurance balances payable |
|
2 115 |
1 928 |
Income taxes payable |
|
909 |
488 |
Deferred and other non-current tax liabilities |
|
9 445 |
8 093 |
Short-term debt |
1 701 |
1 834 |
|
Accrued expenses and other liabilities |
|
6 873 |
7 948 |
Long-term debt |
12 615 |
10 978 |
|
Total liabilities |
|
168 420 |
162 529 |
|
|
|
|
Equity |
|
|
|
Contingent capital instruments |
1 102 |
1 102 |
|
Common shares, CHF 0.10 par value |
|
|
|
2014: 370 706 931; 2015: 370 706 931 shares authorised and issued |
|
35 |
35 |
Additional paid-in capital |
|
1 806 |
482 |
Treasury shares, net of tax |
|
–1 185 |
–1 662 |
Accumulated other comprehensive income: |
|
|
|
Net unrealised investment gains/losses, net of tax |
|
5 418 |
2 748 |
Other-than-temporary impairment, net of tax |
|
–3 |
–11 |
Foreign currency translation, net of tax |
|
–4 675 |
–5 687 |
Adjustment for pension and post-retirement benefits, net of tax |
|
–825 |
–1 016 |
Total accumulated other comprehensive income |
|
–85 |
–3 966 |
|
|
|
|
Retained earnings |
|
34 257 |
37 526 |
Shareholders’ equity |
|
35 930 |
33 517 |
|
|
|
|
Non-controlling interests |
|
111 |
89 |
Total equity |
|
36 041 |
33 606 |
|
|
|
|
Total liabilities and equity |
|
204 461 |
196 135 |
The accompanying notes are an integral part of the Group financial statements.