Notes to the consolidated financial statements of the Helsana Group
Insurance under KVG1 | Insurance under VVG2 | Insurance under UVG3 | Other4 | Elimination | Total | |||||||
Figures in CHF thousand | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 |
Net premiums earned | 5,718,750 | 5,568,179 | 1,953,555 | 1,881,857 | 141,136 | 140,114 | 0 | 0 | 0 | 0 | 7,813,440 | 7,590,151 |
Net cost of claims and benefits | –6,029,066 | –5,843,204 | –1,433,985 | –1,212,145 | –106,437 | –109,523 | 0 | 0 | 0 | 0 | –7,569,487 | –7,164,871 |
Allocated interest | 0 | 0 | 0 | 0 | 4,299 | 4,429 | 0 | 0 | 0 | 0 | 4,299 | 4,429 |
Risk adjustment between insurers | 348,542 | 182,663 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 348,541 | 182,663 |
Policyholder participation | –744 | –1,759 | –23,032 | –48,559 | –1,688 | –1,748 | 0 | 0 | 0 | 0 | –25,464 | –52,066 |
Net operating expenses | –257,447 | –274,549 | –316,410 | –315,747 | –29,185 | –26,214 | 0 | 0 | 0 | 0 | –603,042 | –616,510 |
Underwriting result | –219,966 | –368,671 | 180,128 | 305,407 | 8,125 | 7,059 | 0 | 0 | 0 | 0 | –31,713 | –56,204 |
Investment income | 328,705 | 345,477 | 373,902 | 237,648 | 138,453 | 82,292 | 166,737 | 101,136 | –50,000 | –50,000 | 957,798 | 716,553 |
Investment expenses | –191,591 | –649,651 | –214,105 | –590,411 | –78,835 | –203,612 | –66,754 | –163,042 | 0 | 250 | –551,285 | –1,606,466 |
Change in provision for investment risk | –83,000 | 162,132 | –123,000 | 157,600 | –45,000 | 69,200 | –35,000 | 50,500 | 0 | 0 | –286,000 | 439,432 |
Earnings from investments | 54,114 | –142,042 | 36,797 | –195,163 | 14,618 | –52,120 | 64,983 | –11,406 | –50,000 | –49,750 | 120,513 | –450,481 |
Allocated interest expenses | 0 | 0 | 0 | 0 | –4,299 | –4,429 | 0 | 0 | 0 | 0 | –4,299 | –4,429 |
Other operating income | 10,006 | 7,686 | 39,075 | 34,548 | 1,542 | 458 | 1,906 | 996 | –7,305 | –711 | 45,223 | 42,977 |
Other operating expenses | –9,667 | –4,451 | –28,625 | –26,231 | –865 | –411 | –2,455 | –811 | 7,305 | 711 | –34,307 | –31,193 |
Operating earnings | –165,513 | –507,478 | 227,375 | 118,561 | 19,121 | –49,443 | 64,434 | –11,221 | –50,000 | –49,750 | 95,417 | –499,332 |
Non-operating earnings | 954 | 306 | –95 | –89 | –17 | –15 | –13,585 | –12,094 | 0 | 0 | –12,742 | –11,893 |
Consolidated earnings before taxes | –164,558 | –507,172 | 227,280 | 118,471 | 19,104 | –49,458 | 50,849 | –23,315 | –50,000 | –49,750 | 82,675 | –511,225 |
Deferred income taxes | 0 | 0 | 9,882 | –20,911 | 5,568 | 2,541 | 3,650 | 6,193 | 0 | 0 | 19,101 | –12,177 |
Income taxes | 0 | 0 | –48,529 | 1,584 | –2,169 | –144 | –1,239 | –1,423 | 0 | 0 | –51,936 | 16 |
Non-controlling interest | 0 | 0 | 0 | 0 | 0 | 0 | –369 | –711 | 0 | 0 | –369 | –711 |
Consolidated earnings | –164,558 | –507,172 | 188,634 | 99,144 | 22,503 | –47,062 | 52,892 | –19,257 | –50,000 | –49,750 | 49,471 | –524,096 |
1Insurance under KVG This segment comprises the companies that offer mandatory health care insurance and voluntary daily benefits insurance under the KVG.
2Insurance under VVG This segment comprises the companies that offer insurance products under the VVG.
3Insurance under UVG This segment comprises the companies that offer insurance products under the UVG.
4Other This segment comprises all other companies.
General
The consolidated financial statements 2023 are presented in accordance with the Swiss GAAP accounting and reporting recommendations (Swiss GAAP FER) and provide a true and fair view of the Group’s assets, finances and earnings. Swiss GAAP FER represents a complete body of rules. All recommendations must be applied.
Swiss GAAP FER 41 entered into force for the individual financial statements of KVG health insurers on 1 January 2012. The Helsana Group has applied Swiss GAAP FER 30 (Consolidation) in conjunction with Swiss GAAP FER 41 since financial year 2015. The application of Swiss GAAP FER is voluntary.
Consolidated companies
The consolidated financial statements include all companies that are directly or indirectly controlled by Helsana. Control means the decisive influence on the operational and financial activities in order to derive the corresponding benefit therefrom. This is usually the case if Helsana directly or indirectly holds more than 50 per cent of the voting rights in a company. Companies acquired during the financial year are included from the date on which control over the business activities was transferred to Helsana, and all companies disposed of during the year are excluded from the Group statements from the date of sale.
Change in consolidated companies
As of January 1, 2023, Helsana & Medical Service AG absorbed Aviga AG by way of a merger pursuant to Art. 3 para 1 lit.A FusG.
Rounding differences
All amounts in the annual financial statements are rounded to thousand Swiss francs. This means that the sum of several rounded amounts added together can differ from the rounded total that is reported.
2.1 Consolidation method
Full consolidation
Companies are included in the Group statements based on the full consolidation method. Capital consolidation is carried out using the Anglo-Saxon method (purchase method). Assets and borrowed capital of companies acquired are revalued at the time of control changes in accordance with the Helsana Group’s principles; unrealised gains and losses are carried under the relevant balance sheet items and the remaining difference between the purchase price and equity, i.e. goodwill, calculated according to the accounting policies of the Group, is fully amortised over five years or in the year of consolidation. Any third-party participations in fully consolidated companies are shown separately as non-controlling interests in equity and income.
Equity method
Companies in which Helsana holds between a 20 and 50 per cent stake are stated in the balance sheet at the value corresponding to the pro rata equity capital in line with the equity method.
Consolidation reporting date
The reporting date for all companies included is 31 December.
Events after the reporting date
There were no significant events after the reporting date until the date of signature by the responsible body (29 February 2024).
Intragroup transactions
All intragroup transactions, relationships and earnings are eliminated as part of the consolidation process.
2.2 Valuation principles
Valuation is carried out in line with standardised criteria. In general, the principle of the individual valuation of assets and liabilities applies.
Foreign currencies
Foreign currency positions are converted at current exchange rates at year-end.
The following exchange rates were used:
31.12.2023 | 31.12.2022 | |
Unit/currency | Price | Price |
1 EUR | 0.92896 | 0.99052 |
1 USD | 0.84177 | 0.92477 |
1 GBP | 1.07161 | 1.11919 |
100 JPY | 0.59704 | 0.70526 |
1 CAD | 0.63546 | 0.68296 |
1 AUD | 0.57394 | 0.63067 |
Investments
Real estate
Real estate includes both investment properties and owner-occupied properties, and is recognised in the balance sheet at current market value. Market values are estimated at least once every three years by an independent consulting firm. The values are determined using the discounted cash flow method or another recognised method during the intervening years.
Bonds and bond funds
Include in these are fixed-income securities or investments in similar securities without a fixed maturity (e.g. bond funds) or without a defined redemption price. The investments held are marketable and valued at market price. The periodic change in the balance sheet value is recognized in the income statement. In the event of no observable or current values being available, the nearmarket value is determined by using our own valuation model.
Equities
Equities include equity securities such as stocks and similar securities. Such assets are marketable and are valued at market price. Periodic changes in the carrying amount are recognised in the income statement. Any impairments are booked accordingly.
Collective investment schemes
Collective investment schemes (equity funds, alternative investments, real estate funds, etc.) are reported as a separate item. They are measured at current value. Periodic changes in the carrying amount are recognised in the income statement.
Currency futures
Derivatives include foreign exchange and option contracts, certificates on equity indices and futures. Forward exchange transactions are used to hedge exchange rate and market price fluctuations and are measured at market value.
Investments in other companies
These include investments in companies that are held for strategic purposes. These investments are measured using the last known pro rata equity (equity method).
Collateral for own liabilities as well as assets under reservation of ownership
All investments and cash holdings of the KVG, VVG and UVG segments, with the exception of shareholdings, are reported as tied assets.
Intangible assets
With intangible assets, a distinction is drawn between purchased software and projects. The latter are amortised on a straight-line basis over the course of their useful life. Amounts of more than CHF 500,000 can be capitalised for purchased software. Otherwise, the costs are charged directly to the income statement.
Projects are generally amortised over a period of five years from launch, up to a maximum of ten years in justified cases. They must provide a benefit over several years. At maximum, they are measured at cost of acquisition or production. These costs must be measurable and allocable to the project. Projects may only be capitalised if they are strategic in nature or involve an investment in excess of CHF 3 million.
Property, plant and equipment
Capitalised property, plant and equipment are depreciated on a straight-line basis over the course of their useful life. For fixtures and fittings, acquisitions and collective acquisitions for amounts of more than CHF 500,000 can be capitalised. Amounts below this limit are expensed.
Useful life for each asset category:
- Five years for fixtures and fittings
- Three years for IT hardware
- Three years for vehicles
The value is reviewed annually and the item is written down accordingly.
Deferred charges
This item includes expenses during the reporting year that are deducted as an expense in the following financial year, and income that only leads to revenue in the following financial year.
Receivables
Receivables due from third parties, such as policyholders, insurance organisations, agents and brokers, cantons and other parties, are measured at nominal value. The security is determined on the basis of the maturity structure and recognisable credit risks. In addition to individual write-downs for specific known receivable risks, impairments are formed using statistical information about the risk of default. The calculation of the necessary value adjustments also includes the type of receivable (private customer, corporate customer, co-payment) in addition to the maturity structure. The assumptions are based on historical figures from previous years. Assuming the losses on accounts remain constant as in previous years, an allowance for doubtful receivables is made for the unpaid receivables of up to 180 days with a rate of 0.25 per cent. For older receivables, the effects of Art. 64a KVG (depending on the canton) are included in the calculation of the allowance for doubtful receivables of the KVG companies. The totals of the receivables are included in the ratio of the debt collection proceedings initiated to the resulting certificates of debt.
The receivables due from affiliates are measured at nominal value, taking account of operationally necessary impairments.
Cash and cash equivalents
Cash and cash equivalents encompass cash investments and cash-equivalent assets. Cash and cash equivalents are measured at nominal value. Any impairments are booked accordingly.
Net technical provisions
The item for net technical provisions includes provisions for claims and benefits, actuarial reserves, provisions for profit sharing, technical equalisation reserves and provisions for guarantees as well as other technical provisions. Provisions for claims and benefits are calculated according to actuarial methods recognised by the supervisory authorities (e.g. chain ladder). In doing so, the following parameters are taken into account for the year of occurrence and the year of processing:
- First year of treatment versus payment year for care benefits
- First year of event versus payment year for daily benefits
The reserves for annuities are calculated according to the accounting principles pursuant to Art. 108 UVV. The calculation is based on the annuity without cost of living bonuses. For ceded co-insurance, we assume our portion of the individual actuarial reserve as reported by the company that carries it.
For group sickness benefits, provisions for profit sharing are formed for contracts that include agreements on profit sharing. They are calculated as the expected value of the profit share paid out after the reporting date for contracts for profit sharing that are in effect through the reporting date. The estimate of provisions for profit sharing takes account of the active portfolio and the empirical claims experience as at the reporting date.
The equalisation reserves and provisions for guarantees protect the capital base against the effects of unusual fluctuations in the technical result. They are endowed in accordance with the technical result. The maximum amount results from the difference between the expected shortfall and the level α and the expected value. α is 95 per cent for long-term care insurance. For the other product groups, α is set at 90 per cent. The lower limit is zero.
If the maximum amount is clearly exceeded, equalisation reserves are to be reduced by a maximum of 5% of the premium earned every year on an ongoing basis. The other technical provisions include additional actuarial provisions that are measured according to the applicable and approved business plan.
Non-technical provisions
If an outflow of funds is probable, a corresponding provision is raised for legal and actual obligations on an event in the past. The amount is determined by analysing the relevant past result and the economic risk. If time has a significant impact, the provision requirement must be discounted. The provisions are revalued annually.
Provision for investment risk
The provisions for investment risk map the long-term volatilities of the capital market. The provisions are based on the total portfolio and are reviewed annually. The target provisions and the range for investment risk are calculated according to an analytical model (normal distribution) on the basis of sensitivities in the investments.
- the lower range with a security level of 99.0 per cent
- the target provision with the security level defined internally by Helsana of 99.5 per cent (KVG companies) and 99.75 per cent (other companies) in line with the risk appetite approved by the Board of Directors
- the upper range with a security level of 99.9 per cent
If the investments during the reporting period experience above-average losses in value, the provisions for investment risk can also be liquidated in the income statement, either in full or in part. If the values of the investments increase by more than the average during the reporting period, the provisions for investment risk can also be increased in full or in part to the target value in the income statement.
Deferred credits
This item includes deferred income during the reporting year that is credited as income in the following financial year, and expenses for the reporting year that are only paid the following financial year.
Liabilities
This item mainly includes obligations to policyholders or service providers as well as premiums billed in advance. Loans due are also recognised in this item. The liabilities are recognised in the balance sheet at their nominal amount.
Name | Sector | Consolidation | Share- holding in % | Capital in CHF m |
Helsana Ltd, Dübendorf | Holding | Fully consolidated | 100 | 70.0 |
- Helsana Insurance Company Ltd, Dübendorf | Health insurance | Fully consolidated | 100 | 70.0 |
- Helsana Supplementary Insurances Ltd, Dübendorf | Health insurance | Fully consolidated | 100 | 35.0 |
- Helsana Legal Protection Ltd, Aarau | Legal expenses insurance | Equity method | 50 | 3.0 |
- Helsana Accidents Ltd, Dübendorf | Accident insurance | Fully consolidated | 100 | 14.0 |
- Solida Insurance Ltd, Zurich | Accident insurance | Equity method | 50 | 10.0 |
- Helsana Investment Ltd, Dübendorf | Holding | Fully consolidated | 100 | 0.1 |
- Health & Medical Service Ltd, Zurich | Healthcare sector | Fully consolidated | 100 | 0.1 |
- Helsana HealthInvest Ltd, Zurich | Investment | Fully consolidated | 100 | 0.1 |
- Procare Vorsorge AG, Dübendorf | Services | Fully consolidated | 100 | 0.1 |
- Purchasing Cooperative HSK Ltd, Dübendorf | Services | Fully consolidated | 60 | 0.1 |
- SSS Schaden Service Switzerland Ltd, Zurich | Recourse settlement | Fully consolidated | 50.9 | 0.1 |
Figures in CHF thousand | 2023 | 2022 |
Premium income | 7,814,015 | 7,590,742 |
Reinsurers' share | –574 | –591 |
Total net premiums earned | 7,813,440 | 7,590,151 |
Cost of claims and benefits | –8,308,121 | –8,099,387 |
Co-payments | 840,574 | 857,766 |
Change in technical provisions | –60,154 | 139,794 |
Loss mitigation costs | –41,786 | –63,044 |
Total net cost of claims and benefits | –7,569,487 | –7,164,871 |
Personnel expenses | –404,793 | –400,350 |
Administrative offices and operating equipment | –32,278 | –26,842 |
IT costs | –85,913 | –75,948 |
Marketing, advertising and commission | –56,515 | –75,600 |
Other administrative expenses | –22,251 | –18,768 |
Write-downs | –1,292 | –19,002 |
Total operating expenses, net | –603,042 | –616,510 |
Liquid funds (interest) | 4,891 | 1,946 |
Receivables (interest risk adjustment, default interest, etc.) | 6,157 | 6,237 |
Other income | 34,175 | 34,794 |
Total other operating income | 45,223 | 42,977 |
Liquid funds (interest) | –5,632 | –4,128 |
Liabilities (interest risk adjustment, etc.) | –57 | –68 |
Other expenses | –28,618 | –26,997 |
Total other operating expenses | –34,307 | –31,193 |
Non-operating income, third party | 29,813 | 29,123 |
Non-operating expenses, third party | –42,555 | –41,016 |
Total non-operating income | –12,742 | –11,893 |
Figures in CHF thousand | Ordinary earnings | Realised gains | Unrealised gains | Total 2022 |
Investment income | ||||
Real estate | 20,831 | 0 | 8,109 | 28,940 |
Bonds | 57,934 | 145,817 | 45,850 | 249,601 |
Bond funds | 0 | 0 | 0 | 0 |
Equities | 26,977 | 169,565 | 61,238 | 257,780 |
Alternative investments | 0 | 11,360 | 28,414 | 39,774 |
Real estate funds | 18,642 | 11,651 | 8 | 30,302 |
Currency futures | 0 | 83,166 | 4,411 | 87,576 |
Investments in other companies | 8,012 | 12 | 3,459 | 11,483 |
Other investment income1 | 11,097 | 0 | 0 | 11,097 |
Total investment income | 143,493 | 421,571 | 151,489 | 716,553 |
Figures in CHF thousand | Administrative costs | Realised losses | Non-realised losses | Total 2022 |
Investment expenses | ||||
Real estate | 0 | 0 | –5,880 | –5,880 |
Bonds | 0 | –228,773 | –565,574 | –794,346 |
Bond funds | 0 | 0 | –11,971 | –11,971 |
Equities | 0 | –117,070 | –337,068 | –454,138 |
Alternative investments | 0 | 0 | 0 | 0 |
Real estate funds | 0 | –552 | –217,714 | –218,265 |
Currency futures | 0 | –83,960 | –14,182 | –98,141 |
Investments in other companies | 0 | –270 | –57 | –327 |
Other investment expenses | –10,701 | 0 | 0 | –10,701 |
Asset management costs | –12,697 | 0 | 0 | –12,697 |
Total investment expenses | –23,398 | –430,624 | –1,152,444 | –1,606,466 |
Change in provision for investment risk | 0 | 0 | 439,432 | 439,432 |
Total investment income 2022 | 120,094 | –9,052 | –561,523 | –450,481 |
Figures in CHF thousand | Ordinary earnings | Realised gains | Unrealised gains | Total 2023 |
Investment income | ||||
Real estate | 21,308 | 1,219 | 1,609 | 24,136 |
Bonds | 59,572 | 87,391 | 342,609 | 489,572 |
Bond funds | 0 | 0 | 6,567 | 6,567 |
Equities | 28,185 | 87,824 | 151,140 | 267,149 |
Alternative investments | 0 | 5,923 | 955 | 6,878 |
Real estate funds | 20,482 | 6,067 | 52,029 | 78,578 |
Currency futures | 0 | 31,071 | 33,864 | 64,935 |
Investments in other companies | 1,998 | 0 | 161 | 2,159 |
Other investment income1 | 17,824 | 0 | 0 | 17,824 |
Total investment income | 149,369 | 219,495 | 588,934 | 957,798 |
Figures in CHF thousand | Administrative costs | Realised losses | Non-realised losses | Total 2023 |
Investment expenses | ||||
Real estate | 0 | 0 | –7,075 | –7,075 |
Bonds | 0 | –188,233 | –63,782 | –252,015 |
Bond funds | 0 | 0 | –3,851 | –3,851 |
Equities | 0 | –67,380 | –116,719 | –184,100 |
Alternative investments | 0 | –382 | –28,930 | –29,311 |
Real estate funds | 0 | –1,336 | –20,219 | –21,555 |
Currency futures | 0 | –12,679 | –3,352 | –16,031 |
Investments in other companies | 0 | 0 | –5,474 | –5,474 |
Other investment expenses | –16,695 | 0 | 0 | –16,695 |
Asset management costs | –15,179 | 0 | 0 | –15,179 |
Total investment expenses | –31,874 | –270,010 | –249,401 | –551,285 |
Change in provision for investment risk | 0 | 0 | –286,000 | –286,000 |
Total investment income 2023 | 117,495 | –50,515 | 53,533 | 120,513 |
1Other investment income comprises retrocession repayments by the custodian financial institution.
Figures in CHF thousand | As at 31.12.2021 | Additions/disposals | Change in valuation adjustment | As at 31.12.2022 |
Real estate | 418,842 | 2,477 | 2,230 | 423,549 |
Bonds1 | 4,919,727 | –67,070 | –519,724 | 4,332,933 |
Bond funds | 33,152 | 45,894 | –11,971 | 67,075 |
Equities | 1,535,221 | 49,727 | –275,830 | 1,309,118 |
Alternative investments | 319,369 | –75,966 | 28,414 | 271,817 |
Real estate funds | 881,425 | 42,602 | –217,706 | 706,321 |
Currency futures | 12,661 | 0 | –9,770 | 2,891 |
Investments in other companies | 60,959 | –1,318 | 3,402 | 63,043 |
Investments | 8,181,356 | –3,655 | –1,000,955 | 7,176,747 |
1Bonds have been valued at market value (excluding accrued interest) for the first time for the 2021 financial statements.
Figures in CHF thousand | As at 31.12.2022 | Additions/disposals | Change in valuation adjustment | As at 31.12.2023 |
Real estate | 423,549 | –15,656 | –5,466 | 402,427 |
Bonds | 4,332,933 | –339,795 | 278,827 | 4,271,965 |
Bond funds | 67,075 | 0 | 2,716 | 69,791 |
Equities | 1,309,118 | 193 | 34,421 | 1,343,732 |
Alternative investments | 271,817 | 2,169 | –27,975 | 246,011 |
Real estate funds | 706,321 | 32,792 | 31,811 | 770,924 |
Currency futures | 2,891 | 0 | 30,512 | 33,403 |
Investments in other companies | 63,043 | 0 | –5,312 | 57,731 |
Investments | 7,176,747 | –320,297 | 339,534 | 7,195,984 |
Market value as at 31.12.2023 | Market value as at 31.12.2022 | |||||
Figures in CHF thousand | Currency | Positive | Negative | Positive | Negative | |
Futures | Hedges | SEK | 0 | –27 | 0 | 0 |
Total in bonds | 0 | –27 | 0 | 0 | ||
Futures | Hedges | USD | 26,085 | 0 | 0 | 259 |
Futures | Hedges | EUR | 5,101 | 0 | 0 | 202 |
Futures | Hedges | GBP | 2,217 | 0 | 3,351 | 0 |
Total currency futures | 33,403 | –27 | 3,351 | 461 | ||
Figures in CHF thousand | Office fixtures, fittings and equipment | IT hardware | Vehicles | Total property, plant and equipment | Projects | Software | Total in- tangible assets |
Historical cost | |||||||
Carrying amount as at 31.12.2021 | 48,438 | 53,569 | 976 | 102,983 | 158,781 | 41,531 | 200,312 |
Asset additions | 3,405 | 5,651 | 0 | 9,056 | 0 | 0 | 0 |
Asset disposals | –47,146 | –57,155 | –346 | –104,647 | –156,829 | –41,531 | –198,360 |
Carrying amount as at 31.12.2022 | 4,697 | 2,066 | 629 | 7,392 | 1,952 | 0 | 1,952 |
Accumulated valuation adjustments | |||||||
Value adjustments as at 31.12.2021 | –45,660 | –47,969 | –836 | –94,465 | –158,001 | –37,553 | –195,554 |
Depreciation and amortisation | –1,768 | –5,065 | –57 | –6,890 | –390 | –2,958 | –3,348 |
Impairments | –2,178 | –6,153 | –58 | –8,389 | 0 | –1,019 | –1,019 |
Asset disposals | 47,146 | 57,140 | 346 | 104,632 | 156,829 | 41,531 | 198,360 |
Value adjustments as at 31.12.2022 | –2,458 | –2,048 | –604 | –5,111 | –1,562 | 0 | –1,562 |
Net carrying amount as at 31.12.2022 | 2,239 | 18 | 25 | 2,281 | 390 | 0 | 390 |
Figures in CHF thousand | Office fixtures, fittings and equipment | IT hardware | Vehicles | Total property, plant and equipment | Projects | Software | Total in- tangible assets |
Historical cost | |||||||
Carrying amount as at 31.12.2022 | 4,697 | 2,066 | 629 | 7,392 | 1,952 | 0 | 1,952 |
Asset additions | 3,679 | 176 | 111 | 3,967 | 0 | 0 | 0 |
Asset disposals | –6 | –2 | –32 | –41 | 0 | 0 | 0 |
Carrying amount as at 31.12.2023 | 8,369 | 2,240 | 708 | 11,317 | 1,952 | 0 | 1,952 |
Accumulated valuation adjustments | |||||||
Value adjustments as at 31.12.2022 | –2,458 | –2,048 | –604 | –5,111 | –1,562 | 0 | –1,562 |
Depreciation and amortisation | –1,294 | –70 | –51 | –1,415 | –390 | 0 | –390 |
Impairments | –6 | –4 | 0 | –10 | 0 | 0 | 0 |
Value adjustments as at 31.12.2023 | –3,759 | –2,122 | –656 | –6,536 | –1,952 | 0 | –1,952 |
Net carrying amount as at 31.12.2023 | 4,610 | 118 | 53 | 4,781 | 0 | 0 | 0 |
Figures in CHF thousand | 31.12.2023 | 31.12.2022 |
Accrued interest on investments | 28,214 | 27,783 |
Risk compensation | 271,808 | 31,737 |
Other accrued income and prepaid expenses | 98,940 | 106,743 |
Total deferred charges | 398,962 | 166,263 |
Other deferred income and accrued expenses | 26,279 | 30,105 |
Total deferred credits | 26,279 | 30,105 |
Figures in CHF thousand | 31.12.2023 | 31.12.2022 |
Policyholders | 446,073 | 354,058 |
Insurance organisations | 3,516 | 4,950 |
Related parties | 340 | 949 |
Government offices1 | 86,952 | 104,990 |
Other receivables | 44,909 | 52,113 |
Total receivables | 581,790 | 517,060 |
Policyholders | 719,384 | 655,054 |
Insurance organisations | 1,206 | 1,328 |
Service providers | 127,862 | 139,481 |
Agents and brokers | 2,361 | 2,401 |
Related parties | 2,090 | 2,290 |
Government offices | 18,356 | 18,362 |
Other liabilities | 72,231 | 276,225 |
Total liabilities | 943,490 | 1,095,141 |
1The receivable for the fourth quarter includes the costs of COVID-19 testing assumed by the federal government in the amount of CHF 234,8 thousand (2022: CHF 18.9 million) (total costs of COVID-19 testing assumed by the federal government: CHF 136.9 million).
Figures in CHF thousand | Provision for claims and benefits1 | Actuarial reserve2 | Provision for policyholder participation | Claims equalisation reserve | Other technical provisions3 | Total |
As at 31.12.2021 | 1,614,805 | 474,016 | 80,668 | 1,467,749 | 448,929 | 4,086,165 |
Creation | 1,462,932 | 58,848 | 37,870 | 215,797 | 28,407 | 1,803,854 |
Release | –1,347,794 | –73,004 | –56,264 | –375,617 | –166,566 | –2,019,245 |
As at 31.12.2022 | 1,729,943 | 459,860 | 62,274 | 1,307,929 | 310,770 | 3,870,774 |
Figures in CHF thousand | Provision for claims and benefits1 | Actuarial reserve2 | Provision for policyholder participation | Claims equalisation reserve | Other technical provisions3 | Total |
As at 31.12.2022 | 1,729,943 | 459,860 | 62,274 | 1,307,929 | 310,770 | 3,870,774 |
Creation | 1,500,225 | 40,487 | 79,965 | 85,226 | 26,132 | 1,732,034 |
Release | –1,438,413 | –51,320 | –32,015 | –134,295 | –15,836 | –1,671,880 |
As at 31.12.2023 | 1,791,755 | 449,027 | 110,224 | 1,258,860 | 321,066 | 3,930,928 |
1The amount of reinsurance in the provisions for claims and benefits was CHF 0 as at 31 December 2023 (CHF 0 as at 31.12.2022).
2The pension reserves are discounted with a technical interest rate of 1.0% (2021: 1.0%). The average term is 9,6 years (2022: 10.1 years).
3The other insurance provisions comprise old-age provisions, reserves for the voluntary reduction in reserves and reserves for other compulsory health insurance (OKP) products.
Figures in CHF thousand | Personnel/ brokers1 | Taxes | Other | Total |
As at 31.12.2021 | 40,624 | 42,984 | 6,432 | 90,040 |
Creation | 29,789 | 40 | 11,756 | 41,585 |
Release | –45,649 | –41,255 | –10,546 | –97,450 |
As at 31.12.2022 | 24,764 | 1,769 | 7,642 | 34,175 |
Figures in CHF thousand | Personnel/ brokers1 | Taxes | Other | Total |
As at 31.12.2022 | 24,764 | 1,769 | 7,642 | 34,175 |
Creation | 33,122 | 25,998 | 15,311 | 74,431 |
Release | –40,400 | –4 | –16,293 | –56,697 |
As at 31.12.2023 | 17,486 | 27,763 | 6,660 | 51,910 |
1“Staff/brokers” includes provisions for social costs and premiums for staff and broker fees.
Figures in CHF thousand | Provision for investment risk | Total |
As at 31.12.2021 | 1,017,632 | 1,017,632 |
Creation | 0 | 0 |
Release | –439,432 | –439,432 |
As at 31.12.2022 | 578,200 | 578,200 |
Figures in CHF thousand | Provision for investment risk | Total |
As at 31.12.2022 | 578,200 | 578,200 |
Creation | 286,000 | 286,000 |
Release | 0 | 0 |
As at 31.12.2023 | 864,200 | 864,200 |
Economic benefit/obligation and pension cost | Funding surplus/deficiency1 | Economic interest of organisation | Change from prior year/recognised in income statement in reporting year | Contributions recognised in reporting period | Pension cost in personnel costs | ||
31.12.2022 | 31.12.2022 | 31.12.2021 | 2022 | 2021 | |||
Pension plans with funding surplus | 300,635 | 0 | 0 | 0 | 37,280 | 37,280 | 36,816 |
Total | 300,635 | 0 | 0 | 0 | 37,280 | 37,280 | 36,816 |
Economic benefit/obligation and pension cost | Funding surplus/deficiency1 | Economic interest of organisation | Change from prior year/recognised in income statement in reporting year | Contributions recognised in reporting period | Pension cost in personnel costs | ||
31.12.2023 | 31.12.2023 | 31.12.2022 | 2023 | 2022 | |||
Pension plans with funding surplus | 101,150 | 0 | 0 | 0 | 38,564 | 38,564 | 37,280 |
Total | 101,150 | 0 | 0 | 0 | 38,564 | 38,564 | 37,280 |
1The information is based on the audited 2021 and 2022 annual financial statements of the staff pension fund foundation of Helsana Insurance Company Ltd. Values may be taken from the 2022 financial statements.
Collateral for own liabilities, reservation of ownership (excluding tied assets)
On 31 December 2023, there was no collateral for own liabilities.
Contingent receivables/liabilities
Within the scope of Group VAT taxation, the Helsana Group is jointly and severally liable to the Swiss Federal Tax Administration. Stiftung Fondation Sana is also included in the VAT group together with the fully consolidated companies.
In the case of the alternative investments, there is an obligation to make additional contributions in the amount of TCHF 16,317 (2022: TCHF 19,253).
Pledged or assigned assets
All assets are pledged with the following restriction: liens are exclusively assigned as security for current or future claims from derivative financial instruments only to the extent that such claims are not already covered by the collateral annex to the Swiss framework agreement for OTC derivatives.
Significant related companies
Figures in CHF thousand | Transactions with the Helsana Group (net)1 | Investments2 | Technical provisions2 | |||
2023 | 2022 | 31.12.2022 | 31.12.2021 | 31.12.2022 | 31.12.2021 | |
Name | ||||||
Solida Insurance Ltd, 8048 Zurich | 11,503 | 11,548 | 691,954 | 721,085 | 611,105 | 607,628 |
Helsana Legal Protection Ltd, 5000 Aarau | 22,644 | 22,120 | 56,224 | 54,413 | 49,894 | 47,939 |
1The transactions with associated companies include the sum of the statements of these companies, which include the transferred net premiums less any profit sharing and compensation for administration.
2The figures have been taken from the 2022 Annual Report.