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Consolidated income statement

Figures in CHF thousand

Notes

2021

2020

 

 

 

 

Net premiums earned

4

7,372,231

7,095,781

 

 

 

 

Net cost of claims and benefits

4

−7,039,031

−6,636,205

 

 

 

 

Allocated interest

 

6,192

6,252

Risk adjustment between insurers

 

271,049

339,621

Policyholder participation

 

−41,948

−48,188

Net operating expenses

4

−688,081

−712,967

Underwriting result

 

−119,589

44,295

 

 

 

 

Investment income

 

905,419

618,372

Investment expenses

 

−391,613

−467,624

Change in provision for investment risk

 

−10,000

14,000

Earnings from investments

5

503,806

164,748

 

 

 

 

Allocated interest expenses

 

−6,192

−6,252

Other operating income

4

42,589

42,919

Other operating expenses

4

−106,470

−71,492

Operating earnings

 

314,145

174,218

 

 

 

 

Non-operating earnings

4

−9,144

−7,697

 

 

 

 

Consolidated earnings before taxes

 

305,001

166,521

 

 

 

 

Deferred income taxes

 

−25,662

−3,970

Income taxes

 

−47,469

−7,409

Non-controlling interest

 

−648

−430

 

 

 

 

Consolidated earnings

 

231,222

154,713