Interim results - 6 months ended 30 June 2007
EEV Basis
Segmentation of summarised consolidated balance sheet - EEV basis
As at 30 June 2007
| 30 June 2007 | 30 June 2006 | 31 December 2006 | |||||
|---|---|---|---|---|---|---|---|
| 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 | 259,847 | 38,969 | 298,816 | 231,790 | 38,916 | 270,706 | 290,916 |
| Acquired additional value of in-force long-term business | 1,744 | - | 1,744 | 361 | 66-6 | 361 | 1,806 |
| Total assets included in the statutory IFRS balance sheet | 261,591 | 38,969 | 300,560 | 232,151 | 38,916 | 271,067 | 292,722 |
| Liabilities of the long-term business | (248,293) | - | (248,293) | (222,264) | - | (222,264) | (241,892) |
| Liabilities of the general insurance and other businesses | - | (36,751) | (36,751) | - | (36,683) | (36,683) | (36,766) |
| Net assets on a statutory IFRS basis | 13,298 | 2,218 | 15,516 | 9,887 | 2,233 | 12,120 | 14,064 |
| Additional value of in-force long-term business1 | 7,219 | - | 7,219 | 6,345 | - | 6,345 | 6,794 |
| Net assets on an EEV basis2 | 20,517 | 2,218 | 22,735 | 16,232 | 2,233 | 18,465 | 20,858 |
| Equity capital, capital reserves, shares held by employee trusts and other reserves | 5,645 | 5,854 | 5,632 | ||||
| IFRS basis retained earnings | 6,098 | 3,439 | 5,082 | ||||
| Additional EEV basis retained profit | 7,393 | 6,239 | 6,817 | ||||
| Equity attributable to ordinary shareholders of Aviva plc on an EEV basis | 19,136 | 15,532 | 17,531 | ||||
| Preference share capital and direct capital instrument | 1,190 | 1,190 | 1,190 | ||||
| Minority interests | 2,409 | 1,743 | 2,137 | ||||
| EEV basis total equity | 22,735 | 18,465 | 20,858 | ||||
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 2007 £m | 31 December 2006 £m | Movement in the period £m | |
|---|---|---|---|
| Group's share included in shareholders' funds | 7,393 | 6,817 | 576 |
| Minority interest share | 478 | 439 | 39 |
| Movement in AFS securities | (652) | (462) | (190) |
| Per segmentation of summarised consolidated balance sheet | 666 | 666 | 666 |
| Group's share included in shareholders' funds | 7,219 | 6,794 | 425 |
| Less: share included in assets of operations held for sale | (36) | - | (36) |
| Per balance at 30 June / 31 December | 7,183 | 6,794 | 389 |
2. Analysis of net assets on an EEV basis is made up as follows:
| 30 June 2007 £m | 30 June 2006 £m | 31 December 2006 £m | |
|---|---|---|---|
| Embedded value | 18,704 | 15,532 | 18,098 |
| RBSG goodwill | 217 | 217 | 217 |
| Goodwill and intangible assets allocated to long-term business | 1,652 | 696 | 1,527 |
| Notional allocation of IAS 19 pension fund deficit to long-term business3,4 | (56) | (213) | (179) |
| Long-term business net assets on an EEV basis | 20,517 | 16,232 | 19,663 |
3. 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-profit funds.
