Consolidated income statement
Figures in CHF thousand | Notes | 2017 | 2016 |
Net premiums earned | 4 | 6,390,452 | 6,370,241 |
Net cost of claims and benefits | 4 | –6,315,342 | –6,101,461 |
Allocated interest | 10,132 | 10,020 | |
Risk adjustment between insurers | 624,599 | 434,630 | |
Policyholder participation | –39,837 | –34,258 | |
Net operating expenses | 4 | –679,835 | –624,393 |
Underwriting result | –9,831 | 54,778 | |
Investment income | 757,624 | 655,103 | |
Investment expenses | –403,244 | –447,653 | |
Change in provision for investment risk | –51,000 | –152,000 | |
Earnings from investments | 5 | 303,380 | 55,450 |
Allocated interest expenses | –10,132 | –10,020 | |
Other operating income | 4 | 9,384 | 14,348 |
Other operating expenses | 4 | –67,820 | –5,837 |
Operating earnings | 224,981 | 108,720 | |
Non-operating earnings | 4 | 5,317 | 2,657 |
Extraordinary earnings | 4 | –12 | –28 |
Consolidated earnings before taxes | 230,286 | 111,349 | |
Deferred income taxes | 1,748 | 57,412 | |
Income taxes | –13,424 | –70,027 | |
Non-controlling interest | –728 | –765 | |
Consolidated earnings | 217,882 | 97,969 |
