Income statement
For the years ended 31 December
Download |
USD millions |
Note |
2017 |
2018 |
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Revenues |
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|
|
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Gross premiums written |
34 775 |
36 406 |
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Net premiums written |
32 316 |
34 042 |
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Change in unearned premiums |
|
803 |
–167 |
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Premiums earned |
33 119 |
33 875 |
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Fee income from policyholders |
586 |
586 |
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Net investment income – non-participating business1 |
3 708 |
4 075 |
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Net realised investment gains/losses – non-participating business2 |
1 727 |
65 |
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Net investment result – unit-linked and with-profit business |
3 315 |
–1 593 |
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Other revenues |
|
32 |
39 |
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Total revenues |
|
42 487 |
37 047 |
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Expenses |
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|
|
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Claims and claim adjustment expenses |
–16 730 |
–14 855 |
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Life and health benefits |
–11 083 |
–11 769 |
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Return credited to policyholders |
|
–3 298 |
1 033 |
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Acquisition costs |
–6 977 |
–6 919 |
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Operating expenses |
|
–3 308 |
–3 432 |
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Total expenses before interest expenses |
|
–41 396 |
–35 942 |
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|
|
|
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Income before interest and income tax expense |
|
1 091 |
1 105 |
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Interest expenses |
|
–566 |
–555 |
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Income before income tax expense |
|
525 |
550 |
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Income tax expense |
–132 |
–69 |
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Net income before attribution of non-controlling interests |
|
393 |
481 |
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|
|
|
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Income/loss attributable to non-controlling interests |
|
5 |
–19 |
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Net income after attribution of non-controlling interests |
|
398 |
462 |
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|
|
|
|
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Interest on contingent capital instruments, net of tax |
|
–67 |
–41 |
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Net income attributable to common shareholders |
|
331 |
421 |
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Earnings per share in USD |
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|
|
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Basic |
1.03 |
1.37 |
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Diluted |
1.03 |
1.37 |
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Earnings per share in CHF3 |
|
|
|
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Basic |
1.02 |
1.34 |
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Diluted |
1.01 |
1.34 |
The accompanying notes are an integral part of the Group financial statements.