Interim results for 6 months ended 30 June 2006
Summarised consolidated income statement – IFRS basis
For the six months ended 30 June 2006
| 6 months 2006 €m |
6 months 2006 £m |
6 months 2005 £m |
Full year 2005 £m |
|
|---|---|---|---|---|
| Income | ||||
| 20,157 | Premiums written net of reinsurance | 13,707 | 12,672 | 24,982 |
| 19,831 | Net premiums earned | 13,485 | 12,357 | 24,859 |
| 1,331 | Fee and commission income | 905 | 849 | 1,851 |
| 4,197 | Net investment income | 2,854 | 10,097 | 23,722 |
| 328 | Share of profit after tax of joint ventures and associates | 223 | 16 | 340 |
| 216 | Other income | 147 | 145 | 153 |
| 25,903 | 17,614 | 23,464 | 50,925 | |
| Expenses | ||||
| (16,231) | Claims and benefits paid, net of recoveries from reinsurers | (11,037) | (9,360) | (19,706) |
| 144 | Change in insurance liabilities, net of reinsurance | 98 | (5,478) | (10,376) |
| (2,685) | Change in investment contract provisions | (1,826) | (3,002) | (7,814) |
| 916 | Change in unallocated divisible surplus | 623 | (355) | (1,474) |
| (3,218) | Fee and commission expense | (2,188) | (2,013) | (4,330) |
| (2,265) | Other expenses | (1,540) | (1,538) | (3,166) |
| (564) | Finance costs | (384) | (306) | (609) |
| 2,000 | Profit before tax | 1,360 | 1,412 | 3,450 |
| (165) | Tax attributable to policyholders’ returns | (112) | (288) | (922) |
| 1,835 | Profit before tax attributable to shareholders’ profits | 1,248 | 1,124 | 2,528 |
| Tax expense | ||||
| (396) | United Kingdom tax | (269) | (443) | (1,150) |
| (238) | Overseas tax | (162) | (152) | (402) |
| (634) | (431) | (595) | (1,552) | |
| 165 | Less: tax attributable to policyholders’ returns | 112 | 288 | 922 |
| (469) | Tax attributable to shareholders’ profits | (319) | (307) | (630) |
| 1,366 | Profit for the period | 929 | 817 | 1,898 |
| Attributable to: | ||||
| 1,259 | Equity shareholders of Aviva plc | 856 | 756 | 1,767 |
| 107 | Minority interests | 73 | 61 | 131 |
| 1,366 | 929 | 817 | 1,898 |
All profit is from continuing operations.
| 6 months 2006 | 6 months 2006 | 6 months 2005 | Full year 2005 | |
|---|---|---|---|---|
| Earnings per share – IFRS basis | ||||
| 51.9c | Basic (pence per share) | 35.3p | 32.5p | 73.5p |
| 51.5c | Diluted (pence per share) | 35.0p | 32.1p | 72.9p |
Subsequent to 30 June 2006, the directors proposed an interim dividend for 2006 of 10.82p (interim 2005: 9.83p) per ordinary share, amounting to £275 million (interim 2005: £233 million) in total. The dividend will be paid on 17 November 2006 and will be accounted for as an appropriation of retained earnings in the year ending 31 December 2006.
During the six months to 30 June 2006 the directors declared a final dividend for 2005 of 17.44p per ordinary share (final dividend for 2004: 16.00p) totalling £418 million (six months to 30 June 2005: £364 million).
