27 Annual Report 2020 Statement of changes in equity in CHF Year ended December 2020 Share capital Legal reserves from capital Legal reserves from profit Free reserves from profit Profit for the year Total equity Balances as at 31 December 2019 260 000 000 122 687 129 877 313 316 491 019 210 254 920 916 745 939 Appropriation of earnings Dividend payment 210 210 000 210 210 000 Allocation to free reserves 44 920 44 920 0 Profit for the year 2020 117 804 273 117 804 273 Balances as at 31 December 2020 260 000 000 122 687 129 877 313 316 535 939 117 804 273 824 340 212 Year ended December 2019 Balances as at 31 December 2018 260 000 000 122 687 129 877 313 316 431 026 133 439 993 839 871 019 Appropriation of earnings Dividend payment 133 380 000 133 380 000 Allocation to free reserves 59 993 59 993 0 Profit for the year 2019 210 254 920 210 254 920 Balances as at 31 December 2019 260 000 000 122 687 129 877 313 316 491 019 210 254 920 916 745 939 Investments and investment result in CHF 2020 Current income Write ups Realised gains Total investment income Write downs and value adjustments Realised losses Total investment expenses Real estate 501 265 0 0 501 265 75 919 0 75 919 Fixed income securities 11 926 165 0 2 468 11 928 633 4 108 608 84 4 108 692 Shares 0 0 0 0 0 0 0 Other investments 456 821 501 0 2 260 428 459 081 929 25 872 585 0 25 872 585 Total 471 511 827 Total 30 057 196 2019 Real estate 724 681 0 0 724 681 75 919 0 75 919 Fixed income securities 12 515 358 0 0 12 515 358 4 629 698 799 4 630 497 Shares 0 0 0 0 0 0 0 Other investments 262 185 684 0 383 572 262 569 256 10 871 635 0 10 871 635 Total 275 809 295 Total 15 578 051 Real estate in the table above is the NewRe office building in Zurich Part of the office space is let to external tenants The rental income and associated expenses are recorded as investment income Real estate The decrease in rental income was due to a temporary vacancy of rental space Fixed income securities see Balance sheet as at 31 12 2020 for details in creased by CHF 170m in 2020 following new bond purchases Investment income from Fixed income securities decreased slightly in 2020 compared to 2019 due to lower interest rates The decrease in investment ex penses for Fixed income securities was due to lower write downs Income from Other investments which besides investment income mainly in cludes income linked to deposits retained on assumed reinsurance business in creased by CHF 197m This was due to higher technical interest on deposits retained and additional life interest in connection with new Life transactions Increased volume also drove increases in write downs NewRe AnnualReport 2020 indd 27 28 04 21 19 06

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