Aviva plc: Adoption of Aviva Market Consistent Embedded Value (MCEV) methodology and impact on results

Reconciliation of segmental analysis of life and pensions present value of new business premiums (PVNBP) – EEV basis to MCEV basis

PVNBP Reviewed 6 months 2008	EEV basis as reported¹ £m	Economic changes £m	Other changes £m	MCEV basis¹ £m	Less minority interest £m	MCEV basis² £m
United Kingdom	5,863	160	(13)	6,010	-	6,010
France	2,010	57	(5)	2,062	(370)	1,692
Ireland	648	27	24	699	(175)	524
Italy	1,275	31	(1)	1,305	(656)	649
Netherlands (including Belgium and Germany)	1,991	226	(132)	2,085	(120)	1,965
Poland	739	97	115	951	(124)	827
Spain	1,259	73	(20)	1,312	(599)	713
Other Europe	509	157	-	667	-	667
Europe	8,431	668	(19)	9,081	(2,044)	7,037
North America	2,205	22	-	2,227	-	2,227
Asia	580	139	(34)	684	(4)	680
Australia	204	8	-	212	-	212
Asia Pacific	784	147	(34)	896	(4)	892
Total	17,283	997	(66)	18,214	(2,048)	16,166

PVNBP Audited Full year 2007	EEV basis as reported¹ £m	Economic changes £m	Other changes £m	MCEV basis¹ £m	Less minority interest £m	MCEV basis² £m
United Kingdom	11,655	170	(28)	11,797	-	11,797
France	3,662	128	-	3,790	(633)	3,157
Ireland	1,730	49	1	1,780	(445)	1,335
Italy	2,924	51	-	2,975	(1,691)	1,284
Netherlands (including Belgium and Germany)	2,944	185	4	3,133	(192)	2,941
Poland	844	124	151	1,120	(154)	966
Spain	2,392	77	(35)	2,433	(1,210)	1,223
Other Europe	418	35	-	453	-	453
Europe	14,914	649	121	15,684	(4,325)	11,359
North America	3,602	44	-	3,646	-	3,646
Asia	990	92	59	1,141	(8)	1,133
Australia	439	15	-	454	-	454
Asia Pacific	1,429	107	59	1,595	(8)	1,587
Total	31,600	970	152	32,722	(4,333)	28,389