Starting this summer, Swiss Life Network’s International Profit & Loss Accounts offer even greater value in terms of transparency and flexibility. Clients can select the level of detail and currency of their pool’s account.
True to our commitment to constantly improving our levels of service to our multinational clients, the Swiss Life Network is proud to announce significant enhancements to its International Profit & Loss (P/L) Accounts for multinational pools.
Greater transparency
The new accounts are even easier to read, with enhanced overviews using new tables and charts. They now also include in-depth information on local contracts for even greater transparency.
Your new P/L account also contains information on non-pooled contracts with Network Partners showing premiums, lives covered and benefits insured.
Additional, more detailed information
You now receive a wide range of information about each local contract in the client’s pool – and not only on country level:
- premiums, lives covered, benefits insured
- claims (death, disability and medical claims per contract)
- history and development of losses carried forward
- split of IBNR and claims reserves (death, disability and medical)
The additional data provided by the new P/L accounts means that all the components of each local contract are reported and its results displayed.
Choice of reporting level
You can select one of three versions of the P/L account, depending on how much detail you require:
- overviews
- overviews and result per local insurance provider*
- all details
Currency
It is now possible for the client to decide on the currency for your P/L account. There are two options:
1. one currency for the entire document
2. one currency for overviews, with local contract details shown in the local currency
Note, however, that the international dividend will continue to be paid out in Swiss Francs, as stipulated in the standard pooling agreement.
Excellent company-wide information source
The enhanced level of detail also means that the new account will better meet the needs of corporate departments and also support brokers dealing with employee benefit matters.
Greater transparency
The new accounts are even easier to read, with enhanced overviews using new tables and charts. They now also include in-depth information on local contracts for even greater transparency.
Your new P/L account also contains information on non-pooled contracts with Network Partners showing premiums, lives covered and benefits insured.
Additional, more detailed information
You now receive a wide range of information about each local contract in the client’s pool – and not only on country level:
- premiums, lives covered, benefits insured
- claims (death, disability and medical claims per contract)
- history and development of losses carried forward
- split of IBNR and claims reserves (death, disability and medical)
The additional data provided by the new P/L accounts means that all the components of each local contract are reported and its results displayed.
Choice of reporting level
You can select one of three versions of the P/L account, depending on how much detail you require:
- overviews
- overviews and result per local insurance provider*
- all details
Currency
It is now possible for the client to decide on the currency for your P/L account. There are two options:
1. one currency for the entire document
2. one currency for overviews, with local contract details shown in the local currency
Note, however, that the international dividend will continue to be paid out in Swiss Francs, as stipulated in the standard pooling agreement.
Excellent company-wide information source
The enhanced level of detail also means that the new account will better meet the needs of corporate departments and also support brokers dealing with employee benefit matters.