Supplement 7 - Annual premium equivalent

  Annual premium equivalent1
  3 months to 31 March
2005
£m
3 months to 31 March
2004
£m
Local currency growth2
Life and pensions      
       
United Kingdom 270 275 (2%)
       
France 110 77 41%
Ireland 27 22 19%
Italy 65 49 30%
Netherlands (including Belgium and Luxembourg) 80 63 26%
Poland 10 13 (35%)
Spain 54 57 (7%)
Other Europe 34 26 18%
Continental Europe 380 307 20%
       
International 40 34 17%
Total life and pensions 690 616 11%
       
Investment sales      
       
United Kingdom 24 33 (30%)
       
Netherlands 9 5 81%
Poland 6 3 39%
Other Europe 11 3 294%
Continental Europe 26 11 115%
       
International 5 3 41%
Total investment sales 55 47 11%
Total long-term savings 745 663 11%
  1. Annual premium equivalent (APE) is the UK industry's standard measure of new regular premiums and 10% of single premiums.
  2. Growth rates are calculated based on constant rates of exchange.

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