Aviva 2009 Annual Report Download - page 252

155,693 135,014
164,254 263,643 263,252 233,258
250
Aviva plc Notes to the consolidated financial statements continued
Annual Report and Accounts 2009
55 – Capital statement
This statement sets out the financial strength of our Group entities and provides an analysis of the disposition and constraints
over the availability of capital to meet risks and regulatory requirements. The capital statement also provides a reconciliation
of shareholders’ funds to regulatory capital.
The analysis below sets out the Group’s available capital resources.
Available capital resources
Existing
UKLAP Total
Old with- New with- with- UK life Other Total Overseas Restated
profit sub- profit sub- profit Sub- with-profit UK life UK life life Total life Other 2009 2008 2007
fund fund fund3 funds operations operations operations operations operations4 Total Total Total
£m £m £m £m £m £m £m £m £m £m £m £m
Total shareholders’ funds 2 (185) 28 (155) 4,648 4,493 12,577 17,070 (1,984) 15,086 14,573 15,931
Other sources of capital1 — — — — 200 200 359 559 4,529 5,088 4,915 3,230
Unallocated divisible surplus 182 65 1,639 1,886 5 1,891 1,975 3,866 — 3,866 2,325 6,785
Adjustments onto a
regulatory basis:
Shareholders’ share of
accrued bonus (37) (215) (324) (576) — (576) — (576) — (576) (756) (1,192)
Goodwill and other intangibles5 — — — — (319) (319) (4,060) (4,379) (2,449) (6,828) (8,293) (6,814)
Regulatory valuation
and admissibility restrictions2 52 1,463 247 1,762 (1,673) 89 (1,884) (1,795) 2,271 476 917 (1,135)
Total available capital resources 199 1,128 1,590 2,917 2,861 5,778 8,967 14,745 2,367 17,112 13,681 16,805
Analysis of liabilities:
Participating insurance liabilities 2,159 17,584 13,180 32,923 — 32,923 31,779 64,702 — 64,702 66,863 66,093
Unit-linked liabilities — — — — 5,370 5,370 17,788 23,158 — 23,158 22,060 20,601
Other non-participating
life insurance 334 2,420 386 3,140 19,624 22,764 43,004 65,768 — 65,768 66,770 48,320
92,571 153,628 — 153,628Total insurance liabilities 2,493 20,004 13,566 36,063 24,994 61,057
Participating investment liabilities 613 3,377 5,942 9,932 2,556 12,488 54,071 66,559 — 66,559 65,278 53,609
Non-participating
investment liabilities 9 66 — 75 25,769 25,844 17,612 43,456 — 43,456 42,281 44,635
Total investment liabilities 622 3,443 5,942 10,007 28,325 38,332 71,683 110,015 — 110,015 107,559 98,244
Total liabilities 3,115 23,447 19,508 46,070 53,319 99,389 — 263,643
1. Other sources of capital include Subordinated debt of £4,637 million issued by Aviva and £451 million of other qualifying capital issued by Dutch, Italian, Spanish and US subsidiary undertakings.
2. Including an adjustment for minorities (except for other sources of capital that are reflected net of minority interest).
3. Includes the Provident Mutual with-profit fund.
4. Other operations include general insurance and fund management business.
5. Goodwill and other intangibles includes goodwill of £587 million in JVs and associates.