22 Annual Report 2020 General accounts in CHF 2020 2019 Investment income 471 511 827 275 809 295 Investment expenses 30 057 196 15 578 051 Investment result 441 454 631 260 231 244 Interest on technical provisions Life 431 861 260 234 845 075 Interest on technical provisions Non life 5 888 032 7 122 049 Interest on technical provisions 437 749 292 241 967 124 Investment result excluding interest on technical provisions 3 705 339 18 264 120 Net result from derivative financial instruments 67 347 467 146 773 498 Administration costs 65 457 457 68 970 448 Administration costs Life 34 386 741 19 110 228 Administration costs Non life 16 471 828 18 488 026 Administration costs Investments 14 598 888 31 372 194 Operating result 175 982 932 243 546 060 Other income 318 311 4 081 013 Other expenses 39 334 244 8 843 862 Profit before taxes 136 966 999 238 783 211 Income tax 19 162 726 28 528 291 Profit for the year 117 804 273 210 254 920 NewRe AnnualReport 2020 indd 22 28 04 21 19 06

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