Aviva 2009 Annual Report Download - page 314

312
Aviva plc MCEV financial statements continued
Annual Report and Accounts 2009
M19 – Sensitivity analysis continued
Equity/property
Market values
Volatility
2009 As reported 10% 10% 25%
Embedded value on page 304 increase decrease increase
(net of tax and minority interest) £m £m £m £m
United Kingdom 5,903 205 (215) (250)
France 2,773 125 (115) (140)
Ireland 888 15 (15) —
Italy 660 5 (5) —
Poland 1,141 5 (5) —
Spain 612 10 (10) (5)
Other Europe 259 — — —
Aviva Europe 6,333 160 (150) (145)
Delta Lloyd 1,531 220 (215) (25)
Europe 7,864 380 (365) (170)
North America 694 — — —
Asia 540 15 (15) —
Australia — — — —
Asia Pacific 540 15 (15) —
Total 15,001 600 (595) (420)
Corporate bond
credit spread
Swaption EU
implied minimum
2009 As reported volatilities 50bps 50bps
capital or
Embedded value on page 304 25% increase increase decrease
equivalent
(net of tax and minority interest) £m £m £m £m £m
United Kingdom 5,903 — (665) 730 10
France 2,773 (190) (65) 145 15
Ireland 888 — — — 5
Italy 660 — — — 5
Poland 1,141 — — — 5
Spain 612 — (45) 40 —
Other Europe 259 — — — 5
Aviva Europe 6,333 (190) (110) 185 35
Delta Lloyd 1,531 115 (80) 85 30
Europe 7,864 (75) (190) 270 65
North America 694 (245) (515) 390 5
Asia 540 (5) (15) 15 15
Australia — — — — —
Asia Pacific 540 (5) (15) 15 15
Total 15,001 (325) (1,385) 1,405 95
New business
Interest rates
10bp
increase in
adjustment
2009 As reported to risk-free 1% 1% 2% 2%
Value of new business on page 295 rates increase decrease increase decrease
(net of tax and minority interest) £m £m £m £m £m £m
United Kingdom 177 11 (7) 7 (14) 13
France 94 — 7 (6) 19 (10)
Ireland 8 — 1 (2) 2 (2)
Italy 38 — (2) 2 (4) —
Poland 39 — (2) 3 (5) 6
Spain 51 1 (2) 2 (3) 2
Other Europe 8 — (1) 1 (2) 3
Aviva Europe 238 1 1 — 7 (1)
Delta Lloyd (78) 5 37 (85) 60 (223)
Europe 160 6 38 (85) 67 (224)
North America 16 23 (5) 37 (65) (12)
Asia 9 — 3 (5) 5 (17)
Australia 13 — (1) 1 (2) 2
Asia Pacific 22 — 2 (4) 3 (15)
Total 375 40 28 (45) (9) (238)