Aviva 2014 Annual Report Download - page 154

Aviva plc Annual report and accounts 2014
Notes to the consolidated financial statements continued
150
6 – Details of income
This note gives further detail on the items appearing in the income section of the consolidated income statement.
Continuing operations
2014
£m
2013
£m
Gross written premiums (note 5a and 5b)
Long-term:
Insurance contracts 7,898 8,749
Participating investment contracts 4,829 3,925
General insurance and health 8,943 9,361
21,670 22,035
Less: premiums ceded to reinsurers (note 5a and 5b) (1,614) (1,546)
Gross change in provision for unearned premiums (note 41e) (8) 136
Reinsurers’ share of change in provision for unearned premiums (note 44ciii) 9(2)
Net change in provision for unearned premiums 1134
Net earned premiums 20,057 20,623
Fee and commission income
Fee income from investment contract business 459 465
Fund management fee income 320 347
Other fee income 344 294
Reinsurance commissions receivable 81 90
Other commission income 13 45
Net change in deferred revenue 13 38
1,230 1,279
Total revenue 21,287 21,902
Net investment income
Interest and similar income
From financial instruments designated as trading and other than trading 4,945 5,488
From AFS investments and financial instruments at amortised cost 36 75
4,981 5,563
Dividend income 1,444 1,527
Other income from investments designated as trading
Realised gains/(losses)on disposals 208 (202)
Unrealised gains and losses (policy K)
Gains/(Losses) arising in the year 795 (67)
(Gains)/Losses recognised in prior periods and now realised (208) 202
587 135
795 (67)
Other income from investments designated as other than trading
Realised gains on disposals 2,829 3,250
Unrealised gains and losses (see policy K)
Gains arising in the year 13,403 4,639
Gains recognised in prior periods and now realised (2,829) (3,250)
10,574 1,389
13,403 4,639
Realised gains and losses on AFS investments
Losses/(gains) recognised in prior periods as unrealised in equity 7(1)
Net income from investment properties
Rent 521 647
Expenses relating to these properties (42) (42)
Realised (losses)/gains on disposal 49 (2)
Fair value gains on investment properties (note 22) 678 184
1,206 787
Realised losses on loans (4)
—
Foreign exchange gains and losses on investments other than trading 146 109
Other investment expenses (89) (48)
Net investment income 21,889 12,509
Share of profit after tax of joint ventures (note 19) 129 140
Share of profit/(loss) after tax of associates (note 20a) 18 (20)
Share of profit after tax of joint ventures and associates 147 120
Profit on disposal and remeasurement of subsidiaries, joint ventures and associates (note 4b) 174 115
Income from continuing operations 43,497 34,646
Income from discontinued operations 58 4,665
Total income 43,555 39,311
150 | Aviva plc Annual report and accounts 2014