Aviva 2009 Annual Report Download - page 199

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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
25 – Receivables and other financial assets
This note analyses our total receivables.
2009 2008 2007
£m £m £m
Amounts owed by contract holders 2,435 2,303 2,554
Amounts owed by intermediaries 1,216 1,649 1,417
Deposits with ceding undertakings 1,670 1,747 1,163
Amounts due from reinsurers 680 802 701
Amounts due from brokers for investment sales 232 120 326
Amounts receivable for collateral pledged (notes 24(e) and 57(c)) 15 1 21
Reimbursements due from government health insurance 141 147 402
Corporate owned life insurance 146 162 112
Dividends receivable 76 183 152
Finance lease receivables 162 121 111
Other banking assets 273 237 50
Other financial assets 2,606 2,730 2,164
Total 9,652 10,202 9,173
Less: Amounts classified as held for sale (20) (386) (554)
9,632 9,816 8,619
Expected to be recovered in less than one year 8,985 9,116 8,261
Expected to be recovered in more than one year 647 700 358
9,632 9,816 8,619
Concentrations of credit risk with respect to receivables are limited due to the size and spread of the Group’s trading base.
No further credit risk provision is therefore required in excess of the normal provision for doubtful receivables.
26 – Deferred acquisition costs and other assets
This note shows the products on which we are deferring some of our acquisition costs and details the movements in the balance
during the year.
(a) Carrying amount
The carrying amount comprises:
2009 2008 2007
£m £m £m
Deferred acquisition costs in respect of:
Insurance contracts – Long-term business 2,952 3,306 1,473
Insurance contracts – General insurance and health business 1,227 1,489 1,583
Participating investment contracts – Long-term business 85 87 112
Non-participating investment contracts – Long-term business 1,032 1,062 1,126
Retail fund management business 20 21 27
Total deferred acquisition costs 5,316 5,965 4,321
Surpluses in the staff pension schemes (note 47(e)(vii)) — — 27
Other assets 305 183 139
Total 5,621 6,148 4,487
Less: Amounts classified as held for sale — (1) —
5,621 6,147 4,487
Deferred acquisition costs on long-term business are generally recoverable in more than one year whereas such costs on general
insurance and health business are generally recoverable within one year after the statement of financial position date.
Financial statements IFRS