USD millions

20061

20071

20081

20091

2010

2011

20122

2013

2014

2015

1

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.

2

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

23 526

26 337

23 577

22 664

19 652

21 300

24 661

28 276

30 756

29 751

Fee income

701

794

746

847

918

876

785

542

506

463

Net investment income

6 370

8 893

7 331

6 399

5 422

5 469

5 302

4 735

4 992

4 236

Net realised investment gains/losses

1 679

–615

–8 677

875

2 783

388

2 688

3 325

1 059

1 220

Other revenues

223

251

249

178

60

50

188

24

34

44

Total revenues

32 499

35 660

23 226

30 963

28 835

28 083

33 624

36 902

37 347

35 714

 

 

 

 

 

 

 

 

 

 

 

Expenses

 

 

 

 

 

 

 

 

 

 

Claims and claim adjustment expenses

–9 405

–10 035

–9 222

–8 336

–7 254

–8 810

–7 763

–9 655

–10 577

–9 848

Life and health benefits

–7 647

–9 243

–8 381

–8 639

–8 236

–8 414

–8 878

–9 581

–10 611

–9 080

Return credited to policyholders

–2 253

–1 763

2 611

–4 597

–3 371

–61

–2 959

–3 678

–1 541

–1 166

Acquisition costs

–4 845

–5 406

–4 950

–4 495

–3 679

–4 021

–4 548

–4 895

–6 515

–6 419

Other operating costs and expenses

–3 679

–4 900

–4 358

–3 976

–3 620

–3 902

–3 953

–4 268

–3 876

–3 882

Total expenses

–27 829

–31 347

–24 300

–30 043

–26 160

–25 208

–28 101

–32 077

–33 120

–30 395

 

 

 

 

 

 

 

 

 

 

 

Income/loss before income tax expense

4 670

4 313

–1 074

920

2 675

2 875

5 523

4 825

4 227

5 319

Income tax expense

–1 033

–853

411

–221

–541

–77

–1 125

–312

–658

–651

Net income/loss before attribution of non-controlling interests

3 637

3 460

–663

699

2 134

2 798

4 398

4 513

3 569

4 668

 

 

 

 

 

 

 

 

 

 

 

Income/loss attributable to non-controlling interests

 

 

 

 

–154

–172

–141

–2

0

–3

Net income after attribution of non-controlling interests

3 637

3 460

–663

699

1 980

2 626

4 257

4 511

3 569

4 665

 

 

 

 

 

 

 

 

 

 

 

Interest on contingent capital instruments

 

 

 

–203

–1 117

0

–56

–67

–69

–68

Net income/loss attributable to common shareholders

3 637

3 460

–663

496

863

2 626

4 201

4 444

3 500

4 597

 

 

 

 

 

 

 

 

 

 

 

Balance sheet

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets

 

 

 

 

 

 

 

 

 

 

Investments

167 303

201 221

154 053

151 341

156 947

162 224

152 812

150 075

143 987

137 810

Other assets

71 317

70 198

71 322

81 407

71 456

63 675

68 691

63 445

60 474

58 325

Total assets

238 620

271 419

225 375

232 748

228 403

225 899

221 503

213 520

204 461

196 135

 

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

Unpaid claims and claim adjustment expenses

77 829

78 195

70 944

68 412

64 690

64 878

63 670

61 484

57 954

55 518

Liabilities for life and health policy benefits

36 779

44 187

37 497

39 944

39 551

39 044

36 117

36 033

33 605

30 131

Unearned premiums

6 574

6 821

7 330

6 528

6 305

8 299

9 384

10 334

10 576

10 869

Other liabilities

80 802

95 172

73 366

73 336

72 524

65 850

62 020

57 970

53 670

55 033

Long-term debt

11 337

18 898

17 018

19 184

18 427

16 541

16 286

14 722

12 615

10 978

Total liabilities

213 321

243 273

206 155

207 404

201 497

194 612

187 477

180 543

168 420

162 529

 

 

 

 

 

 

 

 

 

 

 

Shareholders’ equity

25 299

28 146

19 220

25 344

25 342

29 590

34 002

32 952

35 930

33 517

 

 

 

 

 

 

 

 

 

 

 

Non-controlling interests

 

 

 

 

1 564

1 697

24

25

111

89

Total equity

25 299

28 146

19 220

25 344

26 906

31 287

34 026

32 977

36 041

33 606

 

 

 

 

 

 

 

 

 

 

 

Earnings/losses per share in USD

10.75

9.94

–2.00

1.46

2.52

7.68

11.85

12.97

10.23

13.44

Earnings/losses per share in CHF

13.49

11.95

–2.61

1.49

2.64

6.79

11.13

12.04

9.33

12.93