Balance sheet (unaudited)
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Assets
|
CHF millions |
Notes
|
31.12.2002
|
30.06.2003
|
|
|
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| Investments | |||
| Fixed income securities: | |||
|
Available-for-sale, at amortised cost (fair value: 2002: 61514; 2003: 67484) |
59282
|
64394
|
|
|
Trading, at fair value (amortised cost: 2002: 527; 2003: 983) |
517
|
989
|
|
|
Equity securities - Available-for-sale, at fair value (cost: 2002: 13080; 2003: 9335 |
12259
|
9323
|
|
| Mortgages and other loans |
6939
|
7142
|
|
| Investment real estate |
1537
|
1665
|
|
|
Short-term investments, at amortised cost which approximates fair value |
3356
|
5611
|
|
| Other invested assets |
2838
|
1932
|
|
|
|
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| Total investments |
86728
|
91056
|
|
| Cash and cash equivalents |
3773
|
4176
|
|
| Accrued investment income |
1010
|
1047
|
|
| Premiums and other receivables |
12397
|
16196
|
|
| Reinsurance recoverable on unpaid claims and policy benefits |
6443
|
6421
|
|
| Funds held by ceding companies |
18266
|
18201
|
|
| Deferred acquisition costs |
4142
|
4841
|
|
| Acquired present value of future profits |
6668
|
6547
|
|
| Goodwill |
3369
|
3214
|
|
| Income taxes recoverable |
432
|
368
|
|
| Financial services assets |
11575
|
17955
|
|
| Other assets |
7054
|
8768
|
|
|
|
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| Total assets |
161857
|
178790
|
|
|
|
|||
The accompanying notes are an integral part of the Group financial statements.
All financial information included in this report is unaudited, except for balance sheet information as of 31 December 2002, which is audited.
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Liabilities and shareholders' equity
|
CHF millions |
Notes
|
31.12.2002
|
30.06.2003
|
|
|
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Liabilities |
|
|
|
| Unpaid claims and claim adjustment expenses |
62652
|
64832
|
|
| Liabilities for life and health policy benefits |
37269
|
39250
|
|
| Unearned premiums |
6754
|
8968
|
|
| Funds held under reinsurance treaties |
6543
|
5907
|
|
| Reinsurance balances payable |
5221
|
7775
|
|
| Income taxes payable |
340
|
419
|
|
| Deferred income taxes |
1423
|
1845
|
|
| Financial services liabilities |
11599
|
17983
|
|
| Short-term debt |
1331
|
1506
|
|
| Accrued expenses and other liabilities |
6376
|
7558
|
|
| Long-term debt |
5663
|
4893
|
|
|
|
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| Total liabilities |
145171
|
160936
|
|
| 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
|
- 1
|
|
| Cumulative translation adjustments |
- 913
|
- 692
|
|
|
|
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| Total accumulated other comprehensive income |
- 1628
|
- 693
|
|
| Retained earnings |
12176
|
12677
|
|
| Reserve for own shares |
137
|
17
|
|
|
|
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| Total shareholders' equity |
16686
|
17854
|
|
|
|
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| Total liabilities and shareholders' equity |
161857
|
178790
|
|
|
|
|||
The accompanying notes are an integral part of the Group financial statements.
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