Aviva 2009 Annual Report Download - page 163

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Performance review
Aviva plc Notes to the consolidated financial statements continued
Corporate responsibility
Annual Report and Accounts 2009
Governance
Shareholder information
Financial statements IFRS
Financial statements MCEV
Other information
4 – Segmental information continued
(ii) Segmental income statement – products and services for the year ended 31 December 2008
General
Insurance
Long-term and Fund
business health** management Other Total
£m £m £m £m £m
Gross written premiums* 24,272 11,934 — — 36,206
Premiums ceded to reinsurers (1,044) (797) — — (1,841)
Net written premiums 23,228 11,137 — — 34,365
Net change in provision for unearned premiums — 277 — — 277
Net earned premiums 23,228 11,414 — — 34,642
Fee and commission income 753 160 567 405 1,885
23,981 11,574 567 405 36,527
Net investment (expense)/income (16,671) 425 3 200 (16,043)
Inter-segment revenue — — 185 — 185
Share of loss of joint ventures and associates (1,089) (5) (12) (22) (1,128)
Profit on the disposal of subsidiaries and associates — — — 7 7
Segmental income 6,221 11,994 743 590 19,548
Claims and benefits paid, net of recoveries from reinsurers (21,024) (8,329) — — (29,353)
Change in insurance liabilities, net of reinsurance 3,560 325 — — 3,885
Change in investment contract provisions 10,629 — — — 10,629
Change in unallocated divisible surplus 4,482 — — — 4,482
Amortisation of deferred acquisition costs and acquired value of in-force business (333) — — — (333)
Depreciation and other amortisation expense (159) (49) (6) (145) (359)
Other operating expenses (3,194) (3,914) (599) (388) (8,095)
Impairment losses (796) (123) — (121) (1,040)
Inter-segment expenses (167) (8) — (10) (185)
Finance costs (530) (2) (57) (958) (1,547)
(7,532) (12,100) (662) (1,622) (21,916)
Segmental expenses
Tax attributable to policyholder returns 1,068 — — — 1,068
(Loss)/profit before tax attributable to shareholders (243) (106) 81 (1,032) (1,300)
Adjusted for non-operating items 1,937 1,304 42 314 3,597
Operating profit/(loss) before tax attributable to shareholders’ profits 1,694 1,198 123 (718) 2,297
* Gross written premiums includes inward reinsurance premiums assumed from other companies amounting to £255 million, of which £89 million relates to property and liability insurance,
£131 million to long-term business and the remainder to health business.
**General insurance and health business segment includes gross written premiums of £1,924 million and premiums ceded to other companies of £35 million relating to health business.
The remaining business relates to property and liability insurance.
(iii) Segmental statement of financial position – products and services as at 31 December 2009
Long- General
term insurance Fund
business and health management Other Total
£m £m £m £m £m
Goodwill 1,616 462 2 1,301 3,381
Acquired value of in-force business and intangible assets 2,396 382 12 70 2,860
Interests in, and loans to, joint ventures and associates 2,851 5 44 82 2,982
Property and equipment 397 48 12 296 753
Investment property 11,138 191 — 1,093 12,422
Loans 26,915 769 5 13,390 41,079
Financial investments 220,660 11,548 65 6,406 238,679
Deferred acquisition costs 4,069 1,227 20 — 5,316
Other assets 38,469 7,014 523 913 46,919
23,551 354,391Total assets 308,511 21,646 683
Gross insurance liabilities 153,628 17,464 — — 171,092
Gross liabilities for investment contracts 110,015 — — — 110,015
Unallocated divisible surplus 3,866 — — — 3,866
Net asset value attributable to unit holders 6,841 13 — 3,040 9,894
Borrowings 3,780 89 — 11,131 15,000
Other liabilities, including inter-segment liabilities 13,064 (606) 414 16,566 29,438
Total liabilities 291,194 16,960 414 30,737 339,305
Total equity 15,086
Total equity and liabilities 354,391
Financial statements IFRS