Worldwide long-term savings new business – Three months to 31 March 2006
| Present value of new business premiums1 |
New business contribution3 |
New business margin4 |
||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 3 months to 31 March 2006 £m | 3 months to 31 March 2005 £m | Local currency growth2 | 3 months to 31 March 2006 £m | 3 months to 31 March 2005 £m | Local currency growth2 | 3 months to 31 March 2006 | 3 months to 31 March 2005 | |||
| Life and pensions business | ||||||||||
| France | 1,134 | 1,020 | 12% | 45 | 36 | 28% | 4.0% | 3.5% | ||
| Ireland | 258 | 185 | 41% | 5 | 6 | (13%) | 1.9% | 3.2% | ||
| Italy | 845 | 601 | 43% | 21 | 16 | 36% | 2.5% | 2.7% | ||
| Netherlands (including Germany, Belgium and Luxembourg) | 722 | 833 | (12%) | 19 | 18 | 8% | 2.6% | 2.2% | ||
| Poland | 160 | 67 | 129% | 8 | 3 | 147% | 5.0% | 4.5% | ||
| Spain | 495 | 461 | 9% | 46 | 39 | 19% | 9.3% | 8.5% | ||
| Other Europe |
60 | 605 | (5%)5 | (1) | 25 | (183%) | (1.7%) | 3.3% | ||
| Continental Europe |
3,674 | 3,227 | 15% | 143 | 120 | 22% | 3.9% | 3.7% | ||
| Asia | 129 | 85 | 39% | 8 | 5 | 28% | 6.2% | 5.9% | ||
| Australia | 70 | 74 | (8%) | 4 | 2 | 81% | 5.7% | 2.7% | ||
| United States |
152 | 90 | 56% | 3 | 2 | 57% | 2.0% | 2.2% | ||
| Rest of the World |
351 | 249 | 32% | 15 | 9 | 45% | 4.3% | 3.6% | ||
| Interna- tional |
4,025 | 3,476 | 16% | 158 | 129 | 24% | 3.9% | 3.7% | ||
| United Kingdom | 2,763 | 2,183 | 27% | 77 | 68 | 13% | 2.8% | 3.1% | ||
| Total life and pensions |
6,788 | 5,659 | 20% | 235 | 197 | 20% | 3.5% | 3.5% | ||
| Investment sales6 | ||||||||||
| Netherlands | 134 | 92 | 48% | |||||||
| Poland | 28 | 17 | 58% | |||||||
| Other Europe | 168 | 110 | 55% | |||||||
| Continental Europe | 330 | 219 | 52% | |||||||
| Australia | 309 | 213 | 41% | |||||||
| Singapore | 46 | 12 | 251% | |||||||
| Rest of the World | 355 | 225 | 53% | |||||||
| International | 685 | 444 | 53% | |||||||
| United Kingdom | 444 | 209 | 112% | |||||||
| Total investment sales | 1,129 | 653 | 72% | |||||||
| Total long-term savings | 7,917 | 6,312 | 26% | |||||||
| Navigator sales (included above) | 310 | 178 | 69% | |||||||
- 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.
- Growth rates are calculated based on constant rates of exchange.
- Stated before the effect of required capital
- New business margin represents the ratio of new business contribution before the effect of required capital to present value of new business premiums, expressed as a percentage.
- 2005 figures include new business sales of £13 million and new business contribution of £1 million from the Portuguese business, which was disposed in October 2005. Excluding Portugal, Other Europe sales growth would have been 20%.
- Investment sales are calculated as new single premium plus annualised value of new regular premiums.
