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

  Present value of new business premiums1   New business
contribution3		   New business
margin4
  9 months to 30 Sept
2005
£m		 9 months to 30 Sept
2004
£m		 Local
currency
growth2		   9 months to 30 Sept
2005
£m		 9 months to 30 Sept
2004
£m		 Local
currency
growth2		   9 months to 30 Sept
2005		 9 months to 30 Sept
2004
  1. All references to sales in this announcement refer to the present value of new business premiums (PVNBP) unless otherwise stated. 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.
Life and pensions                    
                     
United Kingdom 6,586 6,774 (3%)   198 198 0%   3.0% 2.9%
                     
France 2,593 1,937 33%   98 64 51%   3.8% 3.3%
Ireland 504 392 27%   13 18 (28%)   2.6% 4.6%
Italy 1,816 1,206 49%   46 35 30%   2.5% 2.9%
Netherlands (including Belgium and Luxembourg) 1,742 1,449 19%   55 57 (5%)   3.2% 3.9%
Poland 196 181 (6%)   9 6 29%   4.6% 3.3%
Spain 1,353 1,539 (13%)   116 97 18%   8.6% 6.3%
Other Europe 574 482 18%   7 1 609%   1.2% 0.2%
Continental Europe 8,778 7,186 20%   344 278 22%   3.9% 3.9%
International 896 737 20%   33 29 11%   3.7% 3.9%
Total life and pensions 16,260 14,697 10%   575 505 13%   3.5% 3.4%
                     
Investment sales5                    
                     
United Kingdom 855 664 29%              
                     
Netherlands 281 137 102%              
Poland 36 59 (47%)              
Other Europe 325 172 86%              
Continental Europe 642 368 68%              
International 176 94 81%              
Total investment sales 1,673 1,126 46%              
Total long-term savings 17,933 15,823 12%              
                     
Navigator sales (not included above) 668 491 31%              

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