Aviva 2013 Annual Report Download - page 196

Aviva plc
Annual report and accounts 2013
194
Notes to the consolidated financial statements continued
41 – Insurance liabilities continued
(ii) Gross figures
Before the effect of reinsurance, the loss development table is:
Accident year
All prior
years
£m
2004
£m
2005
£m
2006
£m
2007
£m
2008
£m
2009
£m
2010
£m
2011
£m
2012
£m
2013
£m
Total
£m
Gross cumulative claim payments
At end of accident year (2,971) (3,345) (3,653) (4,393) (4,915) (3,780) (3,502) (3,420) (3,055) (3,068)
One year later (4,561) (5,011) (5,525) (6,676) (7,350) (5,464) (5,466) (4,765) (4,373)
Two years later (4,981) (5,449) (5,971) (7,191) (7,828) (6,102) (5,875) (5,150)
Three years later (5,263) (5,784) (6,272) (7,513) (8,304) (6,393) (6,163)
Four years later (5,448) (6,001) (6,531) (7,836) (8,607) (6,672)
Five years later (5,617) (6,156) (6,736) (8,050) (8,781)
Six years later (5,725) (6,311) (6,936) (8,144)
Seven years later (5,792) (6,467) (7,015)
Eight years later (5,826) (6,496)
Nine years later (5,843)
Estimate of gross ultimate claims
At end of accident year 6,891 7,106 7,533 8,530 9,508 7,364 6,911 6,428 6,201 6,122
One year later 6,557 6,938 7,318 8,468 9,322 7,297 7,006 6,330 6,028
Two years later 6,371 6,813 7,243 8,430 9,277 7,281 6,950 6,315
Three years later 6,178 6,679 7,130 8,438 9,272 7,215 6,914
Four years later 6,008 6,603 7,149 8,409 9,235 7,204
Five years later 6,003 6,605 7,167 8,446 9,252
Six years later 5,953 6,591 7,167 8,381
Seven years later 5,933 6,596 7,176
Eight years later 5,926 6,604
Nine years later 5,919
Estimate of gross ultimate claims 5,919 6,604 7,176 8,381 9,252 7,204 6,914 6,315 6,028 6,122
Cumulative payments (5,843) (6,496) (7,015) (8,144) (8,781) (6,672) (6,163) (5,150) (4,373) (3,068)
2,792 76 108 161 237 471 532 751 1,165 1,655 3,054 11,002
Effect of discounting (614) (1) (1) — (1) 1 — — — — — (616)
Present value 2,178 75 107 161 236 472 532 751 1,165 1,655 3,054 10,386
Cumulative effect of foreign
exchange movements — 12 16 22 17 (30) (21) (42) (38) (33) — (97)
Effect of acquisitions 2 1 2 4 — — — — — — — 9
Present value recognised in the
statement of financial position 2,180 88 125 187 253 442 511 709 1,127 1,622 3,054 10,298