Aviva 2013 Annual Report Download - page 144

Aviva plc
Annual report and accounts 2013
142
Notes to the consolidated financial statements continued
5 – Segmental information continued
(a) (iv) Segmental statement of financial position as at 31 December 2012 – (Restated)1
United Kingdom &
Ireland Europe
Life
£m
GI
£m
France
£m
Poland
£m
Italy, Spain
and Other
£m
Canada
£m
Asia
£m
Aviva
Investors
£m
United
States
£m
Other
Group
activities
£m
Total
£m
Goodwill — 1,037 — 9 342 50 55 27 — — 1,520
Acquired value of in-force business and
intangible assets 140 3 133 10 633 49 5 56 — 55 1,084
Interests in, and loans to,
j
oint ventures
and associates 1,132 — 148 10 116 — 245 4 — — 1,655
Property and equipment 91 13 220 2 8 21 6 5 — 25 391
Investment property 6,774 8 1,342 — 2 — — 1,093 — 720 9,939
Loans 23,193 369 848 — 14 83 30 — — — 24,537
Financial investments 90,182 3,946 59,853 2,920 21,917 3,766 2,808 759 — 2,592 188,743
Deferred acquisition costs 1,357 519 211 19 117 275 5 — — — 2,503
Other assets 16,756 5,074 11,421 201 2,561 1,053 335 436 — 3,655 41,492
Assets of operations classified as held for sale 3,490 — — — 2,762 — 126 28 36,187 10 42,603
Total assets 143,115 10,969 74,176 3,171 28,472 5,297 3,615 2,408 36,187 7,057 314,467
Insurance liabilities
Long-term business and outstanding
claims provisions 71,282 5,846 14,194 2,517 9,733 2,494 2,285 — — 51 108,402
Unearned premiums 238 2,274 369 41 335 1,127 55 — — 2 4,441
Other insurance liabilities — 86 61 — 1 98 — — — 2 248
Liability for investment contracts 49,719 — 46,952 47 11,893 — — 1,883 — — 110,494
Unallocated divisible surplus 2,055 — 4,591 86 38 — 161 — — — 6,931
Net asset value attributable to unitholders 320 — 3,351 — 278 — — — — 6,034 9,983
External borrowings 2,934 — — — 101 — — — — 5,144 8,179
Other liabilities, including inter-segment liabilities 7,439 (4,696) 2,563 99 936 467 236 255 — 5,719 13,018
Liabilities of operations classified as held for sale 3,257 — — — 2,304 — — 13 35,835 2 41,411
Total liabilities 137,244 3,510 72,081 2,790 25,619 4,186 2,737 2,151 35,835 16,954 303,107
Total equity 11,360
Total equity and liabilities 314,467
1 The statement of financial position has been restated following the adoption of IFRS 10 ‘Consolidated Financial Statements’- see note 1 for details. There is no impact on the result for the year ended 31 December 2012 as a result
of this restatement.
(b) Further analysis by products and services
The Group’s results can be further analysed by products and services which comprise long-term business, general insurance and
health, fund management and other activities.
Long-term business
Our long-term business comprises life insurance, long-term health and accident insurance, savings, pensions and annuity business
written by our life insurance subsidiaries, including managed pension fund business and our share of the other life and related
business written in our associates and joint ventures, as well as lifetime mortgage business written in the UK.
General insurance and health
Our general insurance and health business provides insurance cover to individuals and to small and medium sized businesses, for
risks associated mainly with motor vehicles, property and liability, such as employers’ liability and professional indemnity liability,
and medical expenses.
Fund management
Our fund management business invests policyholders’ and shareholders’ funds, provides investment management services for
institutional pension fund mandates and manages a range of retail investment products, including investment funds, unit trusts,
OEICs and ISAs. Clients include Aviva Group businesses and third-party financial institutions, pension funds, public sector
organisations, investment professionals and private investors.
Other
Other includes service companies, head office expenses such as Group treasury and finance functions, and certain financing costs
and taxes not allocated to business segments.
Discontinued operations and Delta Lloyd
In the products and services analysis, the results of US Life (including the related internal asset management business) for all
periods are presented as discontinued operations up to the date of disposal in October 2013. The Group’s share of the results
of its interest in Delta Lloyd are shown as an associate until 5 July 2012 and, from 6 July 2012 until disposed in January 2013,
as a financial investment, and are shown only within other activities within continuing operations.