Analysis of sales via bancassurance channels

	9 months 2008 £m	9 months 2007 £m	Local currency growth²	Sterling growth
	Present value of new business premiums¹
Present value of new business premiums (PVNBP) is the present value of new regular premiums plus 100% of single premiums, calculated using assumptions consistent with those used to determine new business contribution. Growth rates are calculated based on constant rates of exchange. Investment sales are calculated as new single premium plus annualised value of new regular premiums.
Life and pensions

UNITED KINGDOM	895	860	4%	4%

France	686	600	(1)%	14%

Ireland	485	651	(36)%	(25)%

Italy
UniCredit Group	662	1,401	(59)%	(53)%
Banca Popolare	169	203	(28)%	(17)%
Banca delle Marche	17	44	(67)%	(61)%
Unione di Banche	699	606	-	15%
UBI Vita	104	-	-	-
	1,651	2,254	(37)%	(27)%

Netherlands	337	282	4%	20%

Poland	431	68	395%	534%

Spain
Bancaja	434	545	(31)%	(20)%
Caixa Galicia	209	276	(35)%	(24)%
Unicaja	476	351	17%	36%
Caja España	149	129	-	16%
Caja de Granada	82	78	(9)%	5%
Cajamurcia	204	-	-	-
	1,554	1,379	(3)%	13%

*Other Europe*	43	-	-	-

EUROPE	5,187	5,234	(13)%	(1)%

NORTH AMERICA	9	31	(72)%	(71)%

ASIA PACIFIC	483	281	60%	72%

Total life and pensions	6,574	6,406	(8)%	3%

Investment sales³

UNITED KINGDOM	341	293	16%	16%

Total bancassurance sales	6,915	6,699	(7)%	3%

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