Balance sheet
As of 31 December
Assets
| Download |
USD millions |
Note |
2015 |
2016 |
Investments |
|
|
|
Fixed income securities: |
|
|
|
Available-for-sale (including 11 897 in 2015 and 10 036 in 2016 subject to securities lending and repurchase agreements) (amortised cost: 2015: 76 155; 2016: 85 171) |
|
79 435 |
90 581 |
Trading (including 1 729 in 2015 and 1 871 in 2016 subject to securities lending and repurchase agreements) |
|
2 896 |
2 695 |
Equity securities: |
|
|
|
Available-for-sale (including 605 in 2015 and 23 in 2016 subject to securities lending and repurchase agreements) (cost: 2015: 4 294; 2016: 2 897) |
|
4 719 |
3 375 |
Trading |
|
68 |
60 |
Policy loans, mortgages and other loans |
|
3 123 |
3 682 |
Investment real estate |
|
1 556 |
1 925 |
Short-term investments (including 1 278 in 2015 and 2 960 in 2016 subject to securities lending and repurchase agreements) |
|
7 405 |
10 909 |
Other invested assets |
|
10 367 |
9 611 |
Investments for unit-linked and with-profit business (including fixed income securities trading: 4 069 in 2015 and 5 153 in 2016, equity securities trading: 22 783 in 2015 and 25 807 in 2016) |
|
28 241 |
32 178 |
Total investments |
|
137 810 |
155 016 |
|
|
|
|
Cash and cash equivalents (including 319 in 2015 and 1 169 in 2016 subject to securities lending) |
|
8 204 |
9 011 |
Accrued investment income |
|
983 |
1 108 |
Premiums and other receivables |
|
11 709 |
13 270 |
Reinsurance recoverable on unpaid claims and policy benefits |
|
6 578 |
7 461 |
Funds held by ceding companies |
|
9 870 |
8 184 |
Deferred acquisition costs |
5 471 |
6 200 |
|
Acquired present value of future profits |
2 964 |
2 003 |
|
Goodwill |
|
3 862 |
3 965 |
Income taxes recoverable |
|
191 |
291 |
Deferred tax assets |
|
5 970 |
5 902 |
Other assets |
|
2 523 |
2 654 |
|
|
|
|
Total assets |
|
196 135 |
215 065 |
Liabilities and equity
| Download |
USD millions |
Note |
2015 |
2016 |
Liabilities |
|
|
|
Unpaid claims and claim adjustment expenses |
55 518 |
57 355 |
|
Liabilities for life and health policy benefits |
30 131 |
41 176 |
|
Policyholder account balances |
|
31 422 |
34 354 |
Unearned premiums |
|
10 869 |
11 629 |
Funds held under reinsurance treaties |
|
3 320 |
2 544 |
Reinsurance balances payable |
|
1 928 |
1 913 |
Income taxes payable |
|
488 |
633 |
Deferred and other non-current tax liabilities |
|
8 093 |
8 583 |
Short-term debt |
1 834 |
1 564 |
|
Accrued expenses and other liabilities |
|
7 948 |
9 811 |
Long-term debt |
10 978 |
9 787 |
|
Total liabilities |
|
162 529 |
179 349 |
|
|
|
|
Equity |
|
|
|
Contingent capital instruments |
|
1 102 |
1 102 |
Common shares, CHF 0.10 par value 2015: 370 706 931; 2016: 360 072 561 shares authorised and issued |
|
35 |
34 |
Additional paid-in capital |
|
482 |
341 |
Treasury shares, net of tax |
|
–1 662 |
–1 763 |
Accumulated other comprehensive income: |
|
|
|
Net unrealised investment gains/losses, net of tax |
|
2 748 |
4 459 |
Other-than-temporary impairment, net of tax |
|
–11 |
–5 |
Cash flow hedges, net of tax |
|
|
–7 |
Foreign currency translation, net of tax |
|
–5 687 |
–6 074 |
Adjustment for pension and post-retirement benefits, net of tax |
|
–1 016 |
–1 135 |
Total accumulated other comprehensive income |
|
–3 966 |
–2 762 |
|
|
|
|
Retained earnings |
|
37 526 |
38 682 |
Shareholders’ equity |
|
33 517 |
35 634 |
|
|
|
|
Non-controlling interests |
|
89 |
82 |
Total equity |
|
33 606 |
35 716 |
|
|
|
|
Total liabilities and equity |
|
196 135 |
215 065 |
The accompanying notes are an integral part of the Group financial statements.