Aviva 2001 Annual Report Download - page 52

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50 CGNU plc Annual report + accounts 2001
Reconciliation of Group operating profit to
profit on ordinary activities before taxation
For the year ended 31 December 2001
2001 2001 2000
am£m £m
Operating profit before tax based on longer-term investment return before
amortisation of goodwill, amortisation of acquired additional value of
in-force long-term business and exceptional items:
Continuing operations
1,941 Modified statutory life profit (3a) 1,203 1,190
113 Health (3a) 70 68
47 Fund management (3a) 29 61
1,524 General insurance (3a) 945 412
(3) Other operations and associated undertakings (2) (24)
(302) Corporate costs (4) (187) (185)
(687) Unallocated interest charges (7a) (426) (361)
(160) Wealth management (99) (133)
2,473 Total continuing operations 1,533 1,028
(34) Discontinued operations (21) (554)
2,439 1,512 474
Amortisation of goodwill
(21) – long-term business (7a & 19c) (13) –
(119) – non-long-term business (17) (74) (92)
(140) (87) (92)
(104) Amortisation of acquired additional value of in-force long-term business (22a) (64) (29)
(50) Financial Services Compensation Scheme levy (31) –
(95) Integration costs (9b) (59) (425)
Operating profit/(loss) before tax based on longer-term investment return
after amortisation of goodwill, amortisation of acquired additional value
2,050 of in-force long-term business and exceptional items (3b) 1,271 (72)
Short-term fluctuation in investment return
(58) – long-term business (7b) (36) 2
(1,536) – non-long-term business (7b) (952) 256
(1,594) (988) 258
(90) Change in the equalisation provision (38) (56) (27)
463 Net profit/(loss) arising on the disposal of subsidiary undertakings (16c) 287 (1,058)
–Loss on withdrawal from London Market operations –(448)
–Merger transaction costs –(59)
829 Profit/(loss) on ordinary activities before tax 514 (1,406)
The accounting policies (identified alphabetically) on pages 44 to 46 and notes (identified numerically) on pages 56 to 90 are an
integral part of these accounts. The auditor’s report is on page 43.