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Annual Report 2018

Financial highlights

For the years ended 31 December

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USD millions, unless otherwise stated

2017

2018

Change in %

1

Return on equity is calculated by dividing net income/loss attributable to common shareholders by average common shareholders’ equity.

2

Regular staff.

3

Gross cash generation is the change in excess capital available over and above the target capital position, with the target capital being the minimum statutory capital plus the additional capital required by Life Capital’s capital management policy.

Group

 

 

 

Net income attributable to common shareholders

331

421

27

Gross premiums written

34 775

36 406

5

Premiums earned and fee income

33 705

34 461

2

Earnings per share in CHF

1.02

1.34

32

Common shareholders’ equity

33 374

27 930

–16

Return on equity in %1

1.0

1.4

 

Return on investments in %

3.9

2.8

 

Net operating margin in %

2.8

2.9

 

Number of employees2

14 485

14 943

3

Property & Casualty Reinsurance

 

 

 

Net income/loss attributable to common shareholders

–413

370

—

Gross premiums written

16 544

16 545

0

Premiums earned

16 667

16 095

–3

Combined ratio in %

111.5

104.0

 

Net operating margin in %

–1.3

4.3

 

Return on equity in %1

–3.5

3.7

 

Life & Health Reinsurance

 

 

 

Net income attributable to common shareholders

1 092

761

–30

Gross premiums written

13 313

14 527

9

Premiums earned and fee income

11 980

12 835

7

Net operating margin in %

13.1

9.4

 

Return on equity in %1

15.3

11.1

 

Corporate Solutions

 

 

 

Net loss attributable to common shareholders

–741

–405

–45

Gross premiums written

4 193

4 694

12

Premiums earned

3 651

3 925

8

Combined ratio in %

133.4

117.5

 

Net operating margin in %

–23.5

–11.1

 

Return on equity in %1

–32.2

–19.4

 

Life Capital

 

 

 

Net income attributable to common shareholders

161

23

–86

Gross premiums written

1 761

2 739

56

Premiums earned and fee income

1 407

1 606

14

Gross cash generation3

998

818

–18

Net operating margin in %

10.9

3.9

 

Return on equity in %1

2.2

0.4