Aviva 2001 Annual Report Download - page 74

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19 – Investments in Group undertakings and participating interests continued
(c) The carrying value of goodwill on associated undertakings comprises:
Long-term Non-long-term Total Total
business business 2001 2000
£m £m £m £m
Cost:
At 1 January 257 – 257 –
Additions –––257
At 31 December 257 – 257 257
Amortisation:
At 1 January ––––
Charge in the year 13 – 13 –
At 31 December 13 – 13 –
Carrying value at 31 December 244 – 244 257
Goodwill is being amortised on a straight-line basis over its useful economic life of 20 years, which has been determined to match the
period over which the value of the underlying businesses will exceed the value of their identifiable net assets.
(d) In France, the Group holds the majority interest in a number of specialised investment companies. These invest mainly in equities,
bonds and properties, and distribute most of their income. The Group’s interests in these companies are included in these accounts in
other financial investments or land and buildings as appropriate.
20 – Other financial investments
(a) These financial investments comprise:
Long-term Non-long-term Total Long-term Non-long-term Total
business business 2001 business business 2000
£m £m £m £m £m £m
Shares and other variable yield securities
and units in unit trusts 37,342 4,133 41,475 44,941 5,868 50,809
Debt securities and other fixed
income securities:
At current value 20,353 9,288 29,641 11,460 13,813 25,273
At amortised cost 34,129 – 34,129 35,095 – 35,095
Participation in investment pools 77 35 112 101 – 101
Loans secured by mortgages:
Own mortgages 8,259 1,035 9,294 7,912 941 8,853
Securitised mortgages (21) 930 219 1,149 348 – 348
Less: Non-recourse funding (21) (930) (219) (1,149) (348) – (348)
––––––
Other loans:
Loans secured on policies 152 – 152 957 – 957
Other loans 2,880 201 3,081 2,209 292 2,501
Deposits with credit institutions 747 1,194 1,941 1,874 967 2,841
103,939 15,886 119,825 104,549 21,881 126,430
All investments above are shown at current value unless otherwise indicated. The cost of financial investments above was
£109,767 million (2000: £106,707 million).
72 CGNU plc Annual report + accounts 2001 Notes to the accounts continued