Interim results for 6 months ended 30 June 2006
Segmentation of summarised consolidated balance sheet – EEV basis
As at 30 June 2006
| 30 June 2006 |
30 June 2005 |
31 December 2005 |
|||||
|---|---|---|---|---|---|---|---|
| Life and related businesses £m |
General business and other £m |
Group £m |
Life and related businesses £m |
General business and other £m |
Group £m |
Group £m |
|
| Total assets before acquired additional value of in-force long-term business | 231,790 | 38,916 | 270,706 | 211,209 | 36,760 | 247,969 | 263,132 |
| Acquired additional value of in-force long-term business | 361 | - | 361 | 326 | - | 326 | 315 |
| Total assets included in the statutory IFRS balance sheet | 232,151 | 38,916 | 271,067 | 211,535 | 36,760 | 248,295 | 263,447 |
| Liabilities of the long-term business | (222,264) | - | (222,264) | (203,113) | - | (203,113) | (215,624) |
| Liabilities of the general insurance and other businesses | - | (36,683) | (36,683) | - | (35,411) | (35,411) | (36,731) |
| Net assets on a statutory IFRS basis | 9,887 | 2,233 | 12,120 | 8,422 | 1,349 | 9,771 | 11,092 |
| Additional value of in-force long-term business1 | 6,345 | - | 6,345 | 5,335 | - | 5,335 | 6,454 |
| Net assets on an EEV basis2 | 16,232 | 2,233 | 18,465 | 13,757 | 1,349 | 15,106 | 17,546 |
| Equity capital, capital reserves, shares held by employee trusts and other reserves | 5,854 | 5,514 | 5,871 | ||||
| IFRS basis retained earnings | 3,439 | 2,079 | 2,597 | ||||
| Additional EEV basis retained profit | 6,239 | 5,040 | 6,431 | ||||
| Equity attributable to ordinary shareholders of Aviva plc on an EEV basis | 15,532 | 12,633 | 14,899 | ||||
| Preference share capital and direct capital instrument | 1,190 | 1,190 | 1,190 | ||||
| Minority interests | 1,743 | 1,283 | 1,457 | ||||
| EEV basis total equity | 18,465 | 15,106 | 17,546 | ||||
1 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 2006 £m |
31 December 2005 £m |
Movement in the period £m |
|
|---|---|---|---|
| Group's share included in shareholders' funds | 6,239 | 6,431 | (192) |
| Minority interest share | 339 | 329 | 10 |
| Movement in AFS securities | (233) | (306) | 73 |
| Balance at 30 June/31 December | 6,345 | 6,454 | (109) |
2 Analysis of net assets on an EEV basis is made up as follows:
| 30 June 2006 £m |
30 June 2005 £m |
31 December 2005 £m |
|
|---|---|---|---|
| Long-term business net assets on an EEV basis | 16,232 | 13,757 | 15,598 |
| Comprises: | |||
| Embedded value | 15,532 | 12,989 | 15,113 |
| RBSG goodwill | 217 | 217 | 217 |
| Goodwill and other intangibles allocated to long-term business | 696 | 551 | 631 |
| Notional allocation of IAS 19 pension fund deficit to long-term business3 | (213) | - | (363) |
| Long-term business net assets on an EEV basis | 16,232 | 13,757 | 15,598 |
3 Effective from 31 December 2005, the value of the Aviva Staff Pension Scheme deficit has been notionally allocated between segments, based on current funding and the life proportion has been included within the long-term business net assets on an EEV basis. Accordingly, 30 June 2005 figures have not been restated.
