Aviva 2013 Annual Report Download - page 148

Aviva plc
Annual report and accounts 2013
146
Notes to the consolidated financial statements continued
6 – Details of income
This note gives further detail on the items appearing in the income section of the consolidated income statement.
Continuin
g
operations
2013
£m
Restated1
2012
£m
Gross written premiums (notes 5a and 5b)
Long-term:
Insurance contracts 8,749 9,683
Participating investment contracts 3,925 3,526
General insurance and health 9,361 9,535
22,035 22,744
Less: premiums ceded to reinsurers (notes 5a and 5b) (1,546) (1,571)
Gross change in provision for unearned premiums (note 41e) 136 (21)
Reinsurers’ share of change in provision for unearned premiums (note 44ciii) (2) 5
Net change in provision for unearned premiums 134 (16)
Net earned premiums 20,623 21,157
Fee and commission income
Fee income from investment contract business 465 461
Fund management fee income 347 330
Other fee income 294 304
Reinsurance commissions receivable 90 92
Other commission income 45 41
Net change in deferred revenue 38 45
1,279 1,273
Total revenue 21,902 22,430
Net investment income
Interest and similar income
From financial instruments designated as trading and other than trading 5,488 5,735
From AFS investments and financial instruments at amortised cost 75 83
5,563 5,818
Dividend income 1,527 1,652
Other income from investments designated as trading
Realised losses on disposals (202) (667)
Unrealised gains and losses (policy K)
Losses arising in the year (67) (686)
Losses recognised in prior periods and now realised 202 667
135 (19)
(67) (686)
Other income from investments designated as other than trading
Realised gains on disposals 3,250 1,844
Unrealised gains and losses (policy K)
Gains arising in the year 4,639 14,244
Gains recognised in prior periods and now realised (3,250) (1,844)
1,389 12,400
4,639 14,244
Realised gains and losses on AFS investments
Gains recognised in prior periods as unrealised in equity (1) (1)
Net income from investment properties
Rent 647 551
Expenses relating to these properties (42) (47)
Realised (losses)/gains on disposal (2) 7
Fair value gains/(losses) on investment properties (note 22) 184 (475)
787 36
Realised losses on loans — (9)
Foreign exchange gains and losses on investments other than trading 109 132
Other investment expenses (48) (51)
Net investment income 12,509 21,135
Share of profit/(loss) after tax of
j
oint ventures (note 19) 140 (15)
Share of loss after tax of associates (note 20) (20) (240)
Share of profits/(losses) after tax of
j
oint ventures and associates 120 (255)
Profit/(loss) on disposal and remeasurement of subsidiaries,
j
oint ventures and associates (note 4b) 115 (164)
Income from continuing operations 34,646 43,146
Income from discontinued operations 4,665 3,494
Total income 39,311 46,640
1 Restated for the adoption of revised IAS19 and IFRS10. See note 1 for further details.