Aviva 2007 Annual Report Download - page 163
Download and view the complete annual report
Please find page 163 of the 2007 Aviva annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1
-
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
-
209
-
210
-
211
-
212
-
213
-
214
-
215
-
216
-
217
-
218
-
219
-
220
-
221
-
222
-
223
-
224
-
225
-
226
-
227
-
228
-
229
-
230
-
231
-
232
-
233
-
234
-
235
-
236
-
237
-
238
-
239
-
240
-
241
-
242
-
243
-
244
-
245
-
246
-
247
-
248
-
249
-
250
-
251
-
252
-
253
-
254
-
255
-
256
-
257
-
258
-
259
-
260
-
261
-
262
-
263
-
264
-
265
-
266
-
267
-
268
-
269
-
270
-
271
-
272
-
273
-
274
-
275
-
276
-
277
-
278
Aviva plc
Annual Report and
Accounts 2007
159
Financial
statements
17 – Acquired value of in-force business (AVIF) and intangible assets
This note shows the movements in cost and amortisation of the in-force business and intangible assets acquired
when we have purchased subsidiaries.
Other
intangible Intangible
AVIF on AVIF on assets assets with
insurance investment with finite indefinite
contracts* contracts** useful lives useful lives Total
£m £m £m £m £m
Gross amount
At 1 January 2006 614 11 312 302 1,239
Additions 22 – 58 – 80
Acquisition of subsidiaries 1,642 90 380 – 2,112
Disposals – – (14) – (14)
Transfers – – 39 (39) –
Foreign exchange rate movements (93) – (23) – (116)
At 31 December 2006 2,185 101 752 263 3,301
Additions 24 – 48 – 72
Acquisition of subsidiaries 29 – 205 386 620
Disposals – – (8) – (8)
Transfers – – (54) 54 –
Foreign exchange rate movements 35 9 62 6 112
At 31 December 2007 2,273 110 1,005 709 4,097
Accumulated amortisation
At 1 January 2006 (299) (3) (125) – (427)
Amortisation for the year (58) (6) (66) – (130)
Disposals – – 1 – 1
Impairment losses recognised (28) – 2 – (26)
Foreign exchange rate movements 6 – 3 – 9
At 31 December 2006 (379) (9) (185) – (573)
Amortisation for the year (160) (7) (99) – (266)
Transfers – – 54 (54) –
Impairment losses recognised – – (4) – (4)
Foreign exchange rate movements (36) (2) (16) (3) (57)
At 31 December 2007 (575) (18) (250) (57) (900)
Carrying amount
At 31 December 2006 1,806 92 567 263 2,728
At 31 December 2007 1,698 92 755 652 3,197
* On insurance and participating investment contracts.
** On non-participating investment contracts.
Intangible assets with indefinite useful lives comprise:
(i) the RAC and BSM brands, and the value of the Union Financière de France Banque distribution channel, where the
existing lives of the assets and their competitive position in, and the stability of, their respective markets support this
classification; and
(ii) the bancassurance distribution agreement with Banco Popolare, signed during the year, described in note 3(a)(iii)(c).
Impairment testing of these intangibles is covered in note 16(b).
Other intangible assets with finite useful lives consist primarily of the value of bancassurance and other distribution
agreements.