Aviva 2002 Annual Report Download - page 62

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Consolidated profit and loss account
Technical account – general business
For the year ended 31 December 2002
2002 2002 2001
1m£m £m
15,549 Gross premiums written – continuing operations (6a) 9,796 9,734
1,243 – discontinued operations (6a) 783 1,852
16,792 Gross premiums written (6b) 10,579 11,586
(1,832) Outward reinsurance premiums (1,154) (1,209)
13,862 Net premiums written – continuing operations (6a) 8,733 8,691
1,098 – discontinued operations (6a) 692 1,686
14,960 Net premiums written (B) 9,425 10,377
Change in the provision for unearned premiums
(646) Gross amount (407) 57
272 Reinsurers’ share 171 57
(374) (236) 114
14,586 Earned premiums, net of reinsurance 9,189 10,491
Allocated investment return transferred from the
1,876 non-technical account (F & 7b) 1,182 1,404
Claims paid
(11,470) Gross amount (7,226) (9,195)
1,168 Reinsurers’ share 736 1,123
(10,302) (6,490) (8,072)
Change in the provision for claims
529 Gross amount 333 (302)
(792) Reinsurers’ share (499) 590
(263) (166) 288
(10,565) Claims incurred, net of reinsurance (C) (6,656) (7,784)
(3) Changes in other technical provisions, net of reinsurance (2) 1
(4,275) Net operating expenses (9) (2,693) (3,149)
(4,278) Other charges (2,695) (3,148)
(90) Change in the equalisation provision (T & 40) (57) (56)
1,529 Balance on the general business technical account 963 907
The table below provides a reconciliation between the analysis used in the narrative sections of this Report and the balance on the
general business technical account above.
Allocation of
Underwriting result longer term investment return Total
2002 2001 2002 2001 2002 2001
£m £m £m £m £m £m
Operating profit
General insurance – continuing operations (4a) (145) (223) 1,026 1,099 881 876
Health – continuing operations (4a) (24) (13) 85 83 61 70
(169) (236) 1,111 1,182 942 946
General insurance – discontinued
operations (2 & 4a) 7(174) 71 222 78 48
Profit before exceptional items (162) (410) 1,182 1,404 1,020 994
Financial Services Compensation Scheme levy –(31)
Change in the equalisation provision (57) (56)
Balance on the general business
technical account 963 907
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.
48 Aviva plc
Annual report + accounts 2002