Balance sheet
As of 31 December
Assets
| Download |
USD millions |
Note |
2016 |
2017 |
Investments |
|
|
|
Fixed income securities: |
|
|
|
Available-for-sale (including 10 036 in 2016 and 12 969 in 2017 subject to securities lending and repurchase agreements) (amortised cost: 2016: 85 171; 2017: 93 278) |
|
90 581 |
99 248 |
Trading (including 1 871 in 2016 and 1 761 in 2017 subject to securities lending and repurchase agreements) |
|
2 695 |
2 538 |
Equity securities: |
|
|
|
Available-for-sale (including 23 in 2016 and 277 in 2017 subject to securities lending and repurchase agreements) (cost: 2016: 2 897; 2017: 3 544) |
|
3 375 |
3 862 |
Trading |
|
60 |
3 |
Policy loans, mortgages and other loans |
|
3 682 |
4 110 |
Investment real estate |
|
1 925 |
2 220 |
Short-term investments (including 2 960 in 2016 and 411 in 2017 subject to securities lending and repurchase agreements) |
|
10 909 |
4 846 |
Other invested assets |
|
9 611 |
9 904 |
Investments for unit-linked and with-profit business (including fixed income securities trading: 5 153 in 2016 and 5 209 in 2017, equity securities trading: 25 807 in 2016 and 28 783 in 2017) |
|
32 178 |
35 166 |
Total investments |
|
155 016 |
161 897 |
|
|
|
|
Cash and cash equivalents (including 1 169 in 2016 and 322 in 2017 subject to securities lending) |
|
9 011 |
6 806 |
Accrued investment income |
|
1 108 |
1 095 |
Premiums and other receivables |
|
13 270 |
13 834 |
Reinsurance recoverable on unpaid claims and policy benefits |
|
7 461 |
7 942 |
Funds held by ceding companies |
|
8 184 |
9 155 |
Deferred acquisition costs |
6 200 |
6 871 |
|
Acquired present value of future profits |
2 003 |
1 989 |
|
Goodwill |
|
3 965 |
4 172 |
Income taxes recoverable |
|
291 |
378 |
Deferred tax assets |
|
5 902 |
4 817 |
Other assets |
|
2 654 |
3 570 |
|
|
|
|
Total assets |
|
215 065 |
222 526 |
Liabilities and equity
| Download |
USD millions |
Note |
2016 |
2017 |
Liabilities |
|
|
|
Unpaid claims and claim adjustment expenses |
57 355 |
66 795 |
|
Liabilities for life and health policy benefits |
41 176 |
42 561 |
|
Policyholder account balances |
|
34 354 |
37 537 |
Unearned premiums |
|
11 629 |
11 769 |
Funds held under reinsurance treaties |
|
2 544 |
3 109 |
Reinsurance balances payable |
|
1 913 |
1 036 |
Income taxes payable |
|
633 |
679 |
Deferred and other non-current tax liabilities |
|
8 583 |
6 975 |
Short-term debt |
1 564 |
433 |
|
Accrued expenses and other liabilities |
|
9 811 |
7 190 |
Long-term debt |
9 787 |
10 148 |
|
Total liabilities |
|
179 349 |
188 232 |
|
|
|
|
Equity |
|
|
|
Contingent capital instruments |
|
1 102 |
750 |
Common shares, CHF 0.10 par value |
|
|
|
2016: 360 072 561; 2017: 349 452 281 shares authorised and issued |
|
34 |
33 |
Additional paid-in capital |
|
341 |
368 |
Treasury shares, net of tax |
|
–1 763 |
–1 842 |
Accumulated other comprehensive income: |
|
|
|
Net unrealised investment gains/losses, net of tax |
|
4 459 |
4 746 |
Other-than-temporary impairment, net of tax |
|
–5 |
–2 |
Cash flow hedges, net of tax |
|
–7 |
–10 |
Foreign currency translation, net of tax |
|
–6 074 |
–5 548 |
Adjustment for pension and other post-retirement benefits, net of tax |
|
–1 135 |
–820 |
Total accumulated other comprehensive income |
|
–2 762 |
–1 634 |
|
|
|
|
Retained earnings |
|
38 682 |
36 449 |
Shareholders’ equity |
|
35 634 |
34 124 |
|
|
|
|
Non-controlling interests |
|
82 |
170 |
Total equity |
|
35 716 |
34 294 |
|
|
|
|
Total liabilities and equity |
|
215 065 |
222 526 |
The accompanying notes are an integral part of the Group financial statements.