Geographical analysis of life, pensions and investment sales and new business contribution

  Present value of new business premiums1   New business contribution3   New business
margin 4
  3 months
to 31
March
2005
£m
3 months
to 31
March
2004
£m
Local
currency
growth2
  3 months
to 31
March
2005
£m
3 months
to 31
March
2004
£m
Local
currency
growth2
  3 months
to 31
March
2005
3 months
to 31
March
2004
Life and pensions                    
                     
United Kingdom 2,140 2,123 1%   67 61 9%   3.1% 2.9%
                     
France 1,020 717 40%   36 24 50%   3.5% 3.3%
Ireland 185 137 32%   6 7 (12%)   3.2% 5.1%
Italy 601 443 33%   16 12 23%   2.7% 2.7%
Netherlands (including Belgium and Luxembourg) 718 505 39%   18 20 (15%)   2.5% 4.0%
Poland 61 79 (36%)   3 3 (12%)   4.9% 3.8%
Spain 461 466 (3%)   39 31 27%   8.5% 6.7%
Other Europe 224 139 59%   3 - -   1.3% -
Continental Europe 3,270 2,486 31%   121 97 22%   3.7% 3.9%
                     
International 249 186 37%   9 8 27%   3.6% 4.3%
Total life and pensions 5,659 4,795 17%   197 166 18%   3.5% 3.5%
         
Investment sales5
         
United Kingdom 209 252 (17%)  
         
Netherlands 92 50 81%  
Poland 17 31 (57%)  
Other Europe 110 27 294%  
Continental Europe 219 108 87%  
         
International 47 33 41%  
Total investment sales 475 393 18%  
Total long-term savings 6,134 5,188 17%  
Navigator sales
(not included above)
178 151 20%  
  1. Present value of new business premiums (PVNBP) is the present value of new regular premiums plus 100% of single premiums, calculated using assumptions consistent with those used to determine new business contribution.
  2. Growth rates are calculated based on constant rates of exchange.
  3. Stated before the effect of required capital.
  4. New business margin represents the ratio of new business contribution to PVNBP, expressed as a percentage.
  5. Investment sales are calculated as new single premium plus annualised value of new regular premiums.

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