Balance sheet
Page contents
As of 31 December
Assets
| CHF millions |
Notes
|
2002
|
2003
|
|
|
|||
Investments |
|||
| Fixed income securities: | |||
|
Available-for-sale, at amortised cost (fair value: 2002: 61514; 2003: 64274) |
59282
|
63131
|
|
| Trading, at fair value (amortised cost: 2002: 527; 2003: 1129) |
517
|
1131
|
|
|
Equity securities - Available-for-sale, at fair value (cost: 2002: 13080; 2003: 6335) |
12259
|
6751
|
|
| Mortgages and other loans |
6939
|
6133
|
|
| Investment real estate |
1537
|
1646
|
|
| Short-term investments, at amortised cost, which approximates fair value |
3356
|
7339
|
|
| Other invested assets |
2838
|
2074
|
|
|
|
|||
| Total investments |
86728
|
88205
|
|
| Cash and cash equivalents |
3773
|
5429
|
|
| Accrued investment income |
1010
|
1011
|
|
| Premiums and other receivables |
12397
|
11651
|
|
| Reinsurance recoverable on unpaid claims and policy benefits |
6443
|
6657
|
|
| Funds held by ceding companies |
18266
|
19870
|
|
| Deferred acquisition costs |
4142
|
4754
|
|
| Acquired present value of future profits |
6668
|
5952
|
|
| Goodwill |
3369
|
2885
|
|
| Income taxes recoverable |
432
|
484
|
|
| Financial services assets |
11575
|
15697
|
|
| Other assets |
7054
|
7103
|
|
|
|
|||
| Total assets |
161857
|
169698
|
|
|
|
|||
The accompanying notes are an integral part of the Group financial statements.
Liabilities and shareholders' equity
| CHF millions |
Notes
|
2002
|
2003
|
|
|
|||
Liabilities |
|||
| Unpaid claims and claim adjustment expenses |
62652
|
63474
|
|
| Liabilities for life and health policy benefits |
37269
|
37244
|
|
| Unearned premiums |
6754
|
6457
|
|
| Funds held under reinsurance treaties |
6543
|
7530
|
|
| Reinsurance balances payable |
5221
|
5567
|
|
| Income taxes payable |
340
|
724
|
|
| Deferred income taxes |
1423
|
1565
|
|
| Financial services liabilities |
11599
|
15733
|
|
| Short-term debt |
1331
|
1207
|
|
| Accrued expenses and other liabilities |
6376
|
6879
|
|
| Long-term debt |
5663
|
4807
|
|
|
|
|||
| Total liabilities |
145171
|
151187
|
|
Shareholders' equity |
|||
|
Common stock, CHF 0.10 par value; 2002 and 2003: 322057870 shares authorised and issued |
32 |
32 |
|
| Additional paid-in capital |
5969
|
5821
|
|
| Accumulated other comprehensive income: | |||
| Net unrealised investment gains/losses, net of deferred tax |
-715
|
401
|
|
| Foreign currency translation |
-913
|
-1426
|
|
|
|
|||
| Total accumulated other comprehensive income |
-1628
|
-1025
|
|
| Retained earnings |
12176
|
13573
|
|
| Reserve for own shares |
137
|
110
|
|
|
|
|||
| Total shareholders' equity |
16686
|
18511
|
|
|
|
|||
| Total liabilities and shareholders' equity |
161857
|
169698
|
|
|
|
|||
The accompanying notes are an integral part of the Group financial statements.
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