Aviva 2014 Annual Report Download - page 183

Aviva plc Annual report and accounts 2014
179
27 – Financial investments continued
(f) Exposure to worldwide banks – debt securities
Direct shareholder and participating fund assets exposures to worldwide bank debt securities (net of non-controlling
interests, excluding policyholder assets)
Shareholder assets Participating fund assets
2014
Total
senior debt
£bn
Total
subordinated
debt
£bn
Total
debt
£bn
Total
senior debt
£bn
Total
subordinated
debt
£bn
Total
debt
£bn
Austria
—
—
— 0.1
—
0.1
France 0.2
—
0.2 3.1 0.8 3.9
Germany
—
—
— 0.6 0.5 1.1
Ireland
—
—
— —
—
—
Italy 0.1
—
0.1 0.4
—
0.4
Netherlands 0.2 0.2 0.4 1.4 0.2 1.6
Spain 0.7
—
0.7 0.7 0.1 0.8
United Kingdom 0.7 0.3 1.0 1.0 0.7 1.7
United States 0.6 0.1 0.7 1.2 0.1 1.3
Other 0.4 0.2 0.6 1.9 0.5 2.4
Total 2.9 0.8 3.7 10.4 2.9 13.3
2013 Total 2.8 1.1 3.9 10.5 3.2 13.7
Net of non-controlling interests, our direct shareholder assets exposure to worldwide bank debt securities is £3.7 billion. The
majority of our holding (78%) is in senior debt. The primary exposures are to UK (27%), Spanish (19%) and US (19%) banks. Net
of non-controlling interests, our direct shareholder asset exposure to worldwide bank equity securities is £75 million.
Net of non-controlling interests, the participating fund exposures to worldwide bank debt securities, where the risk to our
shareholders is governed by the nature and extent of our participation within those funds, is £13.3 billion. The majority of the
exposure (78%) is in senior debt. Participating funds are the most exposed to French (29%), UK (13%) and Dutch (12%) banks.
Direct shareholder and participating fund assets exposures to worldwide bank debt securities (gross of non-controlling
interests, excluding policyholder assets)
Shareholder assets Participating fund assets
2014
Total
senior debt
£bn
Total
subordinated
debt
£bn
Total
debt
£bn
Total
senior debt
£bn
Total
subordinated
debt
£bn
Total
debt
£bn
Austria
—
—
— 0.1
—
0.1
France 0.2
—
0.2 3.5 0.8 4.3
Germany
—
—
— 0.6 0.5 1.1
Ireland
—
—
— —
—
—
Italy 0.1
—
0.1 0.5
—
0.5
Netherlands 0.2 0.2 0.4 1.4 0.2 1.6
Spain 0.8
—
0.8 0.9 0.1 1.0
United Kingdom 0.7 0.3 1.0 1.1 0.8 1.9
United States 0.6 0.1 0.7 1.3 0.1 1.4
Other 0.5 0.2 0.7 2.4 0.6 3.0
Total 3.1 0.8 3.9 11.8 3.1 14.9
2013 Total 3.3 1.2 4.5 12.1 3.5 15.6
Gross of non-controlling interests, our direct shareholder assets exposure to worldwide bank debt securities is £3.9 billion. The
majority of our holding (79%) is in senior debt. The primary exposures are to UK (26%), Spanish (21%) and US (18%) banks. Gross
of non-controlling interests, our direct shareholder asset exposure to worldwide bank equity securities is £75 million.
Gross of non-controlling interests, the participating fund exposures to worldwide bank debt securities, where the risk to our
shareholders is governed by the nature and extent of our participation within those funds, is £14.9 billion. The majority of the
exposure (79%) is in senior debt. Participating funds are the most exposed to French (29%), UK (13%) and Dutch (11%) banks.
Aviva plc Annual report and accounts 2014 |179
IFRS Financial statements