Poland

Current position

Leading long-term savings business following greenfield launch in 1992
Currently second in the life market and first in the pension market with over 3.6 million customers
Lithuania business ranks third in both the life and pension market since its launch in 2001
Strong bancassurance presence in 2008 with significant increase in sales through Deutsche Bank and launch of new joint ventures with Bank Zachodni WBK
New flagship life insurance product launched, Nowa Perspektywa, which is a modern flexible product combining protection with investment

Strong life and pensions sales growth to £1.8bn (2007: £1.1bn) reflecting bancassurance sales and new regular premium product
New business contribution (g/g) of £65m
New business margin (g/g) of 3.5% (2007: 4.3%) due to change in business mix
Life MCEV operating earnings up to £241m (2007: £181m) reflecting higher expected return and increased value of new business
Life IFRS operating profit of £162m (2007: £110m)

Strong direct sales force of over 3,300 agents
Growing sales through bancassurance partners Deutsche Bank and Bank Zachodni WBK
Group business distributed through specialist sales team

Maintain market leading positions in life and pension markets
Improve competitiveness in primary market (new customers) in pension business
New joint venture with Bank Zachodni WBK launched to provide opportunity to sell both Life and GI products through network of 400 branches with 1.4m potential new customers
Direct motor insurance product launch contributing to strong growth in general insurance business