Aviva 2006 Annual Report Download - page 214

Aviva plc
Annual Report and Accounts 2006 210
Notes to the consolidated financial statements continued
51 – Derivative financial instruments continued
The contractual undiscounted cash flows in relation to non-hedge derivative liabilities have the following maturities:
2006 2005
£m £m
Within one year 162 423
Between one and two years 63 8
Between two and three years 78
Between three and four years 78
Between four and five years 18 8
After five years 214 144
471 599
52 – Assets under management
The total Group assets under management are:
2006 2005
£m £m
Total assets included in the consolidated balance sheet 292,722 263,447
Additional value of internally-generated in-force long-term business 6,794 6,454
Third party funds under management
Unit trusts, OEICs, Peps and Isas 20,574 16,188
Segregated funds 43,672 35,427
Total assets under management 363,762 321,516
Third-party funds under management now include funds administered under the Navigator platform. This change has increased the total
assets under management at 31 December 2006 by £6,058 million (2005: £4,606 million).
53 – Related party transactions
The Group received income from related parties from transactions made in the normal course of business. Loans to related parties are
made on normal arm’s length commercial terms.
Services provided to related parties
2006 2005
Income earned Receivable at Income earned Receivable at
in year year end in year year end
£m £m £m £m
Associates 50 1 47 12
Joint ventures 16 241 13 128
Employee pension schemes 6–3–
72 242 63 140
The related parties’ receivables arenot secured and no guarantees werereceived in respect thereof. The receivables will be settled in
accordance with normal credit terms. Details of guarantees, indemnities and warranties provided on behalf of related parties are given
in note 46(f).
Therewereno services provided by related parties in either 2005 or 2006.
Details of loans made to joint ventures and associates may be found in notes 17 and 18 respectively.
The total compensation to those employees classified as key management, being those having authority and responsibility for planning,
directing and controlling the activities of the Group, including the executive and non-executive directors is as follows:
2006 2005
£m £m
Salary and other short-term benefits 32 24
Post-employment benefits 11
Equity compensation plans 16 9
Termination benefits 4–
Total 53 34
Information concerning individual directors’ emoluments, interests and transactions is given in the Directors’ remuneration report.
Financial statements continued