Segmentation of summarised consolidated balance sheet - EEV basis
As at 30 June 2005
| Life and related businesses 30 June 2005 £m |
General business and other 30 June 2005 £m |
Group 30 June 2005 £m |
Restated* Life and related businesses 30 June 2004 £m |
Restated* General business and other 30 June 2004 £m |
Restated* Group 30 June 2004 £m |
Group 31 December 2004 £m |
|
|---|---|---|---|---|---|---|---|
| Total assets before acquired additional value of in-force long-term business | 211,209 | 36,760 | 247,969 | 184,337 | 30,336 | 214,673 | 238,939 |
| Acquired additional value of in-force long- term business | 326 | - | 326 | 376 | - | 376 | 364 |
| Total assets included in the statutory IFRS balance sheet | 211,535 | 36,760 | 248,295 | 184,713 | 30,336 | 215,049 | 239,303 |
| Liabilities of the long-term business | (203,113) | - | (203,113) | (177,002) | - | (177,002) | (198,483) |
| Liabilities of the general insurance and other businesses | - | (35,411) | (35,411) | - | (31,331) | (31,331) | (31,827) |
| Net assets on a statutory IFRS basis | 8,422 | 1,349 | 9,771 | 7,711 | (995) | 6,716 | 8,993 |
| Pension scheme funding adjustment1 | 93 | - | 93 | 69 | - | 69 | 69 |
| Additional value of in-force long-term business2 | 5,242 | - | 5,242 | 4,493 | - | 4,493 | 4,949 |
| Net assets on an EEV basis3 | 13,757 | 1,349 | 15,106 | 12,273 | (995) | 11,278 | 14,011 |
| Equity capital, capital reserves, shares held by employee trusts and other reserves | 5,514 | 4,642 | 5,184 | ||||
| IFRS basis retained earnings | 2,079 | 1,107 | 1,709 | ||||
| Additional EEV basis retained profit | 5,040 | 4,342 | 4,768 | ||||
| Equity attributable to shareholders of Aviva plc on an EEV basis | 12,633 | 10,091 | 11,661 | ||||
| Preference share capital and direct capital instrument | 1,190 | 200 | 1,190 | ||||
| Minority interests | 1,283 | 987 | 1,160 | ||||
| EEV basis total equity | 15,106 | 11,278 | 14,011 | ||||
| * Restated for the effect of implementing European Embedded Value principles | |||||||
| 1 The difference in pension scheme funding arises on the embedded value balance sheet as the element of the pension scheme deficit which relates to UK Life and other related businesses is now incorporated within shareholders’ funds at an amount equivalent to the post-tax contributions discounted using the UK Life business risk discount rate. | |||||||
| 2 The analysis between the Group’s and the minority interest’s share of the additional value of in-force long-term business is as follows: | |||||||
| 30 June 2005 £m |
31 December 2004 £m |
Movement in the period £m |
|
|---|---|---|---|
| Group’s share included in shareholders funds | 5,040 | 4,768 | 272 |
| Minority interest share | 295 | 250 | 45 |
| Difference in pension scheme funding | (93) | (69) | (24) |
| Balance at 30 June / 31 December | 5,242 | 4,949 | 293 |
| 3 Analysis of net assets on an EEV basis is made up as follows: | |||
| 30 June 2005 £m |
Restated* 30 June 2004 £m |
31 December 2004 £m |
||
|---|---|---|---|---|
| Long-term business net assets on an EEV basis | 13,757 | 12,273 | 13,826 | |
| Comprises: | ||||
| Embedded value | 12,989 | 11,473 | 13,014 | |
| RBSG goodwill | 217 | 217 | 217 | |
| Goodwill allocated to long-term business | 551 | 583 | 595 | |
| Long-term business net assets on an EEV basis | 13,757 | 12,273 | 13,826 | |
| * Restated for the effect of implementing European Embedded Value principles | ||||