Preliminary results - 12 months ended 31 December 2006 01 March 2007
Segmentation of summarised consolidated balance sheet – EEV basis
As at 31 December 2006
| Life and related businesses 2006 £m | General business and other 2006 £m | Group 2006 £m | Life and related businesses 2005 £m | General business and other 2005 £m | Group 2005 £m | |
|---|---|---|---|---|---|---|
| Total assets before acquired additional value of in-force long-term business | 252,955 | 37,961 | 290,916 | 224,453 | 38,679 | 263,132 |
| Acquired additional value of in-force long - term business | 1,806 | - | 1,806 | 315 | - | 315 |
| Total assets included in the statutory IFRS balance sheet | 254,761 | 37,961 | 292,722 | 224,768 | 38,679 | 263,447 |
| Liabilities of the long-term business | (241,892) | - | (241,892) | (215,624) | - | (215,624) |
| Liabilities of the general insurance and other businesses | - | (36,766) | (36,766) | - | (36,731) | (36,731) |
| Net assets on a statutory IFRS basis | 12,869 | 1,195 | 14,064 | 9,144 | 1,948 | 11,092 |
| Additional value of in-force long-term business1 | 6,794 | - | 6,794 | 6,454 | - | 6,454 |
| Net assets on an EEV basis2 | 19,663 | 1,195 | 20,858 | 15,598 | 1,948 | 17,546 |
| Equity capital, capital reserves, shares held by employee trusts and other reserves | 5,632 | 5,871 | ||||
| IFRS basis retained earnings | 5,082 | 2,597 | ||||
| Additional EEV basis retained profit | 6,817 | 6,431 | ||||
| Equity attributable to ordinary shareholders of Aviva plc on an EEV basis | 17,531 | 14,899 | ||||
| Preference share capital and direct capital instrument | 1,190 | 1,190 | ||||
| Minority interests | 2,137 | 1,457 | ||||
| EEV basis total equity | 20,858 | 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:
| 2006 £m | 2005 £m | Movement in the year £m | |
|---|---|---|---|
| Group's share included in shareholders' funds | 6,817 | 6,431 | 386 |
| Minority interest share | 439 | 329 | 110 |
| Movement in AFS securities | (462) | (306) | (156) |
| Balance at 31 December | 6,794 | 6,454 | 340 |
2. Analysis of net assets on an EEV basis is made up as follows:
| 2006 £m | 2005 £m | |
|---|---|---|
| Long-term business net assets on an EEV basis | 19,663 | 15,598 |
| Comprises: | ||
| Embedded value | 18,098 | 15,113 |
| RBSG goodwill | 217 | 217 |
| Goodwill and intangible assets allocated to long-term business | 1,527 | 631 |
| Notional allocation of IAS 19 pension fund deficit to long-term business 3,4 | (179) | (363) |
| Long-term business net assets on an EEV basis | 19,663 | 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.
4. Effective from 31 December 2006, the pension fund deficit notionally allocated to long-term business is net of the proportion of funding borne by the UK with-profits funds.
