Preliminary results - 12 months ended 31 December 2004 and acquisition of RAC plc - 09 March 2005
Results announcement
Operating and financial review
- Group operating profit before tax
- Long-term savings
- Life EEV operating return
- New business margin – after minority interest, tax and cost of capital
- Life operating profit on a modified statutory basis
- Health
- Fund management
- General insurance
- Non-insurance operations
- Corporate costs
- Unallocated interest charges
- Cost savings
- Profit on ordinary activities before tax
- Dividends
- International Financial Reporting Standards (IFRS)
- Group capital structure
- Return on capital employed
- Different measures of capital
- Group
- Life operations
- Glossary
European Embedded Value (EEV) basis
- Summarised consolidated profit and loss account – EEV basis
- Earnings per share – EEV basis
- Consolidated statement of total recognised gains and losses – EEV basis
- Reconciliation of movements in consolidated shareholders’ funds – EEV basis
- Summarised consolidated balance sheet – EEV basis
- Segmentation of summarised consolidated balance sheet – EEV basis
- Basis of preparation – EEV basis
- EEV methodology
- Components of life EEV return
- New business contribution
- EEV basis – new business contribution before and after the effect of required capital, tax and minority interest
- Post tax internal rate of return on life and pensions new business
- Experience variances
- Operating assumption changes
- Geographical analysis of life EEV operating return
- Analysis of movement in life and related businesses embedded value
- Segmental analysis of life and related businesses embedded value
- Time value of options and guarantees
- Minority interest in life and related businesses EEV results
- Principal economic assumptions – deterministic calculations
- Principal economic assumptions – stochastic calculation
- Other assumptions
- Sensitivity analysis – economic assumptions
- Sensitivity analysis – non-economic assumptions
Modified statutory basis
- Summarised consolidated profit and loss account – modified statutory basis
- Earnings per share – modified statutory basis
- Consolidated statement of total recognised gains and losses
- Reconciliation of movements in consolidated shareholders’ funds
- Summarised consolidated balance sheet
- Consolidated cash flow statement
- Basis of preparation – modified statutory solvency basis
- Exchange rates
- Acquisitions
- Exceptional costs for termination of operations
- Disposals
- Geographical analysis of life and pensions and investment sales – new business and total income
- Geographical analysis of modified statutory life operating profit
- Geographical analysis of health premiums after reinsurance and operating result
- Geographical analysis of general insurance premiums after reinsurance and operating result
- Fund management operating result
- Non-insurance operations
- Corporate costs
- Tax
- Dividends
- Earnings per share
Statistical supplement
- Life EEV operating return before tax
- Supplementary analyses
- General insurance – geographical ratio analysis
- General insurance – class of business analyses
- Appendix A: Group capital structure
- Appendix B: Restated preliminary opening balance sheet as at 1 January 2004 under International Financial Reporting Standards
- Shareholder information
