Aviva 2009 Annual Report Download - page 218

216
Aviva plc Notes to the consolidated financial statements continued
Annual Report and Accounts 2009
38 – Insurance liabilities continued
(ii) Gross figures
Before the effect of reinsurance, the loss development table is:
All prior
years 2001 2002 2003 2004 2005 2006 2007 2008 2009 Total
Accident year £m £m £m £m £m £m £m £m £m £m £m
Gross cumulative claim payments
At end of accident year (3,029) (2,952) (2,819) (2,971) (3,345) (3,653) (4,393) (4,915) (3,780)
One year later (4,766) (4,486) (4,190) (4,561) (5,011) (5,525) (6,676) (7,350)
Two years later (5,303) (4,921) (4,613) (4,981) (5,449) (5,971) (7,191)
Three years later (5,701) (5,233) (4,972) (5,263) (5,784) (6,272)
Four years later (5,966) (5,466) (5,258) (5,448) (6,001)
Five years later (6,121) (5,618) (5,409) (5,617)
Six years later (6,223) (5,715) (5,527)
Seven years later (6,294) (5,767)
Eight years later (6,350)
Estimate of gross ultimate claims
At end of accident year 6,590 6,250 6,385 6,891 7,106 7,533 8,530 9,508 7,364
One year later 6,770 6,372 6,172 6,557 6,938 7,318 8,468 9,322
Two years later 6,775 6,287 6,124 6,371 6,813 7,243 8,430
Three years later 6,798 6,257 6,036 6,178 6,679 7,130
Four years later 6,754 6,205 5,932 6,008 6,603
Five years later 6,679 6,122 5,853 6,003
Six years later 6,630 6,056 5,813
Seven years later 6,576 6,044
Eight years later 6,600
Estimate of gross ultimate claims 6,600 6,044 5,813 6,003 6,603 7,130 8,430 9,322 7,364
Cumulative payments (6,350) (5,767) (5,527) (5,617) (6,001) (6,272) (7,191) (7,350) (3,780)
3,358 250 277 286 386 602 858 1,239 1,972 3,584 12,812
Effect of discounting (778) (8) (13) (31) (4) (7) (7) (8) (11) (13) (880)
Present value 2,580 242 264 255 382 595 851 1,231 1,961 3,571 11,932
Cumulative effect of foreign
exchange movements — 43 43 69 83 106 152 132 (41) — 587
Effect of acquisitions — 7 10 62 14 23 23 27 11 — 177
Present value recognised in the
statement of financial position 2,580 292 317 386 479 724 1,026 1,390 1,931 3,571 12,696