Aviva 2009 Annual Report Download - page 303

301
Aviva plc
Annual Report and Accounts 2009 MCEV financial statements continued
Performance review
Corporate responsibility
Governance
Shareholder information
Financial statements IFRS
Financial statements MCEV
Other information
M8 – Present value of life new business premiums continued
Restated
Present
Present value of
value of Restated new
Regular regular Single business
premiums WACF premiums premiums premiums
31 December 2008 £m £m £m £m £m
United Kingdom 660 4.8 3,180 8,678 11,858
France 95 6.9 651 3,229 3,880
Ireland 129 4.3 557 742 1,299
Italy 132 6.0 796 1,535 2,331
Poland 106 11.2 1,183 659 1,842
Spain1 174 6.0 1,042 1,447 2,489
Other Europe 117 7.7 906 108 1,014
Aviva Europe 753 6.8 5,135 7,720 12,855
Delta Lloyd 197 9.0 1,775 2,322 4,097
Europe 950 7.3 6,910 10,042 16,952
North America 68 8.8 600 5,115 5,715
Asia 174 5.4 941 410 1,351
Australia 60 3.6 217 152 369
Asia Pacific 234 5.0 1,158 562 1,720
Total life and pensions 1,912 6.2 11,848 24,397 36,245
1. The restatement in Spain of £38 million in 2008 is due to the reclassification of incremental premiums on annual renewable term contracts from new business to existing business.
M9 – Geographical analysis of value of new business
Present value of new
business premiums Value of new business New business margin
Restated Restated
Life and pensions 2009 2008 2009 2008 2009 2008
(gross of tax and minority interest) £m £m £m £m % %
United Kingdom 8,914 11,858 247 204 2.8% 1.7%
France 4,891 3,880 169 135 3.5% 3.5%
Ireland 1,072 1,299 12 15 1.1% 1.2%
Italy 3,607 2,331 124 71 3.4% 3.0%
Poland 1,079 1,842 55 65 5.1% 3.5%
Spain1 2,454 2,489 151 202 6.2% 8.1%
Other Europe 420 1,014 10 29 2.4% 2.9%
Aviva Europe 13,523 12,855 521 517 3.9% 4.0%
Delta Lloyd 3,665 4,097 (103) (47) (2.8)% (1.1)%
Europe 17,188 16,952 418 470 2.4% 2.8%
North America 4,545 5,715 16 55 0.4% 1.0%
Asia Pacific 1,356 1,720 29 43 2.1% 2.5%
Total life and pensions 32,003 36,245 710 772 2.2% 2.1%
1. The restatement in Spain of £38 million in 2008 is due to the reclassification of incremental premiums on annual renewable term contracts from new business to existing business.
Present value of new
business premiums Value of new business New business margin
Life and pensions
(net of tax and minority interest)
2009
£m
Restated
2008
£m
2009
£m
Restated
2008
£m
2009
%
Restated
2008
%
United Kingdom 8,914 11,858 177 147 2.0% 1.2%
France 4,111 3,281 94 79 2.3% 2.4%
Ireland 804 974 8 10 1.0% 1.0%
Italy 1,614 980 38 21 2.4% 2.1%
Poland 933 1,604 39 46 4.2% 2.9%
Spain1 1,326 1,357 51 68 3.8% 5.0%
Other Europe 420 1,014 8 24 1.9% 2.4%
Aviva Europe 9,208 9,210 238 248 2.6% 2.7%
Delta Lloyd 3,235 3,868 (78) (48) (2.4)% (1.2)%
Europe 12,443 13,078 160 200 1.3% 1.5%
North America 4,545 5,715 16 36 0.4% 0.6%
Asia Pacific 1,348 1,713 22 33 1.6% 1.9%
Total life and pensions 27,250 32,364 375 416 1.4% 1.3%
1. The restatement in Spain of £38 million in 2008 is due to the reclassification of incremental premiums on annual renewable term contracts from new business to existing business.
Financial statements MCEV