Preliminary results - 12 months ended 31 December 2006 01 March 2007
EEV basis – new business contribution before the effect of required capital, tax and minority interest
| Annual premium equivalent | Present value of new business premiums | New business contribution1 | New business margin2 | |||||
|---|---|---|---|---|---|---|---|---|
| 2006 £m | 2005 £m | 2006 £m | 2005 £m | 2006 £m | 2005 £m | 2006 % | 2005 % | |
| Analysed between: | ||||||||
| – Banc-assurance channels | 942 | 710 | 7,737 | 6,075 | 369 | 311 | 4.8% | 5.1% |
| – Other distribution channels | 2,316 | 2,035 | 18,115 | 16,171 | 523 | 497 | 2.9% | 3.1% |
| Total | 3,258 | 2,745 | 25,852 | 22,246 | 892 | 808 | 3.5% | 3.6% |
- Stated before the effect of required capital
- New business margin represents the ratio of new business contribution before the effect of required capital to PVNBP, expressed as a percentage.
EEV basis – new business contribution after the effect of required capital, tax and minority interest
| Annual premium equivalent | Present value of new business premiums1 | New business contribution2 | New business margin3 | |||||
|---|---|---|---|---|---|---|---|---|
| 2006 £m | 2005 £m | 2006 £m | 2005 £m | 2006 £m | 2005 £m | 2006 % | 2005 % | |
| Analysed between: | ||||||||
| – Banc-assurance channels | 553 | 387 | 4,465 | 3,238 | 121 | 93 | 2.7% | 2.9% |
| – Other distribution channels | 2,252 | 1,997 | 17,607 | 15,815 | 255 | 248 | 1.4% | 1.6% |
| Total | 2,805 | 2,384 | 22,072 | 19,053 | 376 | 341 | 1.7% | 1.8% |
- Stated after deducting minority interests.
- Contribution stated after deducting the effect of required capital, tax and minority interests.
- New business margin represents the ratio of new business contribution after deducting the effect of required capital, tax and minority interests to PVNBP after deducting the minority interests, expressed as a percentage.
