Segment information

 

Switzerland

 

 

Germany

 

 

Italy

 

 

Spain

 

 

Other insu-
rance units

 

 

Corporate

 

 

Elimination

 

 

Total

 

 

2014

 

2013

 

2014

 

2013

 

2014

 

2013

 

2014

 

2013

 

2014

 

2013

 

2014

 

2013

 

2014

 

2013

 

2014

 

2013

in CHF million

 

 

reclassified

 

 

reclassified

 

 

reclassified

 

 

reclassified

 

 

reclassified

 

 

 

 

 

 

reclassified

Income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross premiums written

 

4 390.9

 

4 350.3

 

864.5

 

843.2

 

1 056.0

 

917.4

 

436.2

 

405.2

 

1 061.4

 

938.8

 

-

 

-

 

– 195.4

 

– 161.7

 

7 613.6

 

7 293.2

Reinsurance premiums ceded

 

– 141.4

 

– 128.6

 

– 88.0

 

– 84.8

 

– 92.2

 

– 77.9

 

– 27.2

 

– 16.4

 

– 145.8

 

– 143.1

 

-

 

-

 

195.7

 

162.2

 

– 298.9

 

– 288.6

Net premiums written

 

4 249.5

 

4 221.7

 

776.5

 

758.4

 

963.8

 

839.5

 

409.0

 

388.8

 

915.6

 

795.7

 

-

 

-

 

0.3

 

0.5

 

7 314.7

 

7 004.6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net change in unearned premium reserve

 

112.1

 

– 0.3

 

3.3

 

– 0.1

 

5.4

 

15.1

 

– 4.0

 

0.5

 

9.8

 

0.4

 

-

 

-

 

– 0.3

 

– 0.5

 

126.3

 

15.1

Net earned premiums

 

4 361.6

 

4 221.4

 

779.8

 

758.3

 

969.2

 

854.6

 

405.0

 

389.3

 

925.4

 

796.1

 

-

 

-

 

-

 

-

 

7 441.0

 

7 019.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current income on Group investments (net)1

 

723.8

 

704.5

 

72.7

 

73.8

 

93.6

 

88.4

 

26.0

 

25.4

 

60.3

 

60.8

 

18.9

 

16.2

 

– 2.4

 

– 2.1

 

992.9

 

967.0

Gains and losses on Group investments (net)1

 

82.3

 

91.9

 

20.5

 

41.2

 

26.7

 

13.0

 

5.4

 

2.7

 

45.7

 

20.5

 

101.9

 

20.5

 

-

 

-

 

282.5

 

189.8

Income investments with market risk for the policyholder1

 

73.2

 

20.8

 

37.9

 

41.7

 

67.8

 

87.4

 

4.7

 

3.7

 

16.9

 

6.6

 

-

 

-

 

-

 

-

 

200.5

 

160.2

Share of profit or loss of associates

 

1.0

 

14.8

 

-

 

-

 

0.0

 

-

 

0.0

 

0.4

 

0.0

 

0.0

 

-

 

-

 

-

 

-

 

1.0

 

15.2

Other income1

 

26.3

 

21.0

 

5.0

 

4.6

 

23.5

 

30.1

 

5.9

 

5.0

 

11.2

 

11.2

 

2.5

 

1.9

 

– 1.1

 

– 0.6

 

73.3

 

73.2

Total operating income

 

5 268.2

 

5 074.4

 

915.9

 

919.6

 

1 180.8

 

1 073.5

 

447.0

 

426.5

 

1 059.5

 

895.2

 

123.3

 

38.6

 

– 3.5

 

– 2.7

 

8 991.2

 

8 425.1

of which transactions between geographical segments

 

86.7

 

71.9

 

67.3

 

60.3

 

40.0

 

27.5

 

19.7

 

13.6

 

– 215.5

 

– 175.1

 

– 1.7

 

– 0.9

 

3.5

 

2.7

 

-

 

-

Total revenues from external customers

 

5 354.9

 

5 146.3

 

983.2

 

979.9

 

1 220.8

 

1 101.0

 

466.7

 

440.1

 

844.0

 

720.1

 

121.6

 

37.7

 

-

 

-

 

8 991.2

 

8 425.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Claims incurred including claims handling costs (non-life)

 

– 550.7

 

– 416.1

 

– 379.7

 

– 366.5

 

– 329.9

 

– 347.5

 

– 212.5

 

– 184.8

 

– 578.6

 

– 533.8

 

-

 

-

 

118.3

 

86.9

 

– 1 933.1

 

– 1 761.8

Claims and benefits paid (life)

 

– 3 419.2

 

– 2 340.8

 

– 138.8

 

– 130.9

 

– 369.0

 

– 274.3

 

– 81.7

 

– 77.7

 

– 144.5

 

– 115.5

 

-

 

-

 

10.8

 

6.8

 

– 4 142.4

 

– 2 932.4

Change in actuarial reserves

 

– 330.8

 

– 1 426.9

 

– 190.9

 

– 201.1

 

– 221.5

 

– 199.7

 

– 36.3

 

– 25.2

 

– 40.3

 

– 38.2

 

-

 

-

 

– 3.4

 

0.0

 

– 823.2

 

– 1 891.1

Reinsurers’ share of benefits and claims

 

47.9

 

40.0

 

52.4

 

61.0

 

58.9

 

61.1

 

23.2

 

5.6

 

82.7

 

75.1

 

-

 

-

 

– 128.2

 

– 96.0

 

136.9

 

146.8

Policyholder dividends and bonuses

 

– 83.6

 

– 124.1

 

– 22.1

 

– 30.3

 

– 3.3

 

– 0.9

 

0.0

 

-

 

– 0.2

 

– 4.3

 

-

 

-

 

-

 

-

 

– 109.2

 

– 159.6

Income attributable to deposits for investment contracts1

 

– 6.3

 

0.1

 

-

 

-

 

– 67.5

 

– 87.5

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

– 73.8

 

– 87.4

Net benefits to policyholders and claims

 

– 4 342.7

 

– 4 267.8

 

– 679.1

 

– 667.8

 

– 932.3

 

– 848.8

 

– 307.3

 

– 282.1

 

– 680.9

 

– 616.7

 

-

 

-

 

– 2.5

 

– 2.3

 

– 6 944.8

 

– 6 685.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Acquisition costs

 

– 314.8

 

– 265.6

 

– 180.1

 

– 173.0

 

– 126.5

 

– 113.0

 

– 86.1

 

– 77.6

 

– 242.9

 

– 202.8

 

-

 

-

 

44.2

 

32.5

 

– 906.2

 

– 799.5

Reinsurers’ share of acquisition costs

 

24.7

 

19.4

 

26.2

 

17.5

 

17.9

 

12.4

 

6.2

 

3.6

 

25.9

 

24.4

 

-

 

-

 

– 41.9

 

– 30.2

 

59.0

 

47.1

Operating and administrative expenses

 

– 243.9

 

– 209.7

 

– 52.7

 

– 50.8

 

– 67.8

 

– 66.3

 

– 27.8

 

– 27.1

 

– 65.5

 

– 53.5

 

– 20.1

 

– 4.9

 

0.2

 

0.0

 

– 477.6

 

– 412.3

Interest payable

 

– 21.6

 

– 20.2

 

– 3.1

 

– 3.4

 

– 2.1

 

– 2.2

 

– 0.2

 

– 0.1

 

– 0.6

 

– 0.6

 

– 0.7

 

– 1.2

 

3.4

 

2.7

 

– 24.9

 

– 25.0

Other expenses1

 

– 102.3

 

– 27.1

 

– 7.1

 

– 6.4

 

– 48.3

 

– 20.7

 

4.1

 

– 1.8

 

– 37.3

 

– 9.1

 

– 29.6

 

– 1.1

 

0.1

 

0.0

 

– 220.4

 

– 66.2

Total operating expenses

 

– 5 000.6

 

– 4 771.0

 

– 895.9

 

– 883.9

 

– 1 159.1

 

– 1 038.6

 

– 411.1

 

– 385.1

 

– 1 001.3

 

– 858.3

 

– 50.4

 

– 7.2

 

3.5

 

2.7

 

– 8 514.9

 

– 7 941.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Profit or loss from operating activities

 

267.6

 

303.4

 

20.0

 

35.7

 

21.7

 

34.9

 

35.9

 

41.4

 

58.2

 

36.9

 

72.9

 

31.4

 

0.0

 

0.0

 

476.3

 

483.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financing costs

 

-

 

-

 

-

 

-

 

– 0.1

 

– 0.2

 

-

 

-

 

-

 

-

 

– 12.9

 

– 21.8

 

-

 

-

 

– 13.0

 

– 22.0

Profit or loss before tax

 

267.6

 

303.4

 

20.0

 

35.7

 

21.6

 

34.7

 

35.9

 

41.4

 

58.2

 

36.9

 

60.0

 

9.6

 

0.0

 

0.0

 

463.3

 

461.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income taxes

 

– 46.5

 

– 52.6

 

– 5.9

 

– 11.5

 

– 18.6

 

– 14.1

 

– 8.2

 

– 14.3

 

– 7.4

 

– 7.2

 

16.6

 

1.8

 

0.0

 

0.0

 

– 70.0

 

– 97.9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Profit or loss for the period

 

221.1

 

250.8

 

14.1

 

24.2

 

3.0

 

20.6

 

27.7

 

27.1

 

50.8

 

29.7

 

76.6

 

11.4

 

0.0

 

0.0

 

393.3

 

363.8

1 Voluntary change in presentation (see section 2.3 on page 117)