Preliminary results year ended 31 December 2008
05 March 2009
M16 – Free surplus emergence
| Existing business | New business | Total business | |||||||
|---|---|---|---|---|---|---|---|---|---|
| 2008 | Transfer from VIF to net worth £m |
Return on net worth £m |
Impact of experience variances and assumption changes on net worth £m |
Release of required capital to free surplus £m |
Total existing business surplus generation £m |
Impact on net worth £m |
Reduction in free surplus from required capital £m |
Total new business surplus generation £m |
Total free surplus generation £m |
| United Kingdom | 403 | 119 | 736 | 85 | 1,343 | (147) | (159) | (306) | 1,037 |
| Europe | 619 | 280 | (92) | 325 | 1,132 | (438) | (422) | (860) | 272 |
| North America | 194 | 39 | (24) | 197 | 406 | (118) | (475) | (593) | (187) |
| Asia Pacific | 73 | 14 | 1 | (12) | 76 | (55) | (53) | (108) | (32) |
| Total | 1,289 | 452 | 621 | 595 | 2,957 | (758) | (1,109) | (1,867) | 1,090 |
| Existing business | New business | Total business | |||||||
|---|---|---|---|---|---|---|---|---|---|
| 2007 | Transfer from VIF to net worth £m |
Return on net worth £m |
Impact of experience variances and assumption changes on net worth £m |
Release of required capital to free surplus £m |
Total existing business surplus generation £m |
Impact on net worth £m |
Reduction in free surplus from required capital £m |
Total new business surplus generation £m |
Total free surplus generation £m |
| United Kingdom | 549 | 66 | 225 | 57 | 897 | (245) | (149) | (394) | 503 |
| Europe | 537 | 197 | 42 | 118 | 894 | (225) | (345) | (570) | 324 |
| North America | 103 | 33 | 19 | 133 | 288 | (107) | (280) | (387) | (99) |
| Asia Pacific | 55 | 12 | (4) | 4 | 67 | (47) | (34) | (81) | (14) |
| Total | 1,244 | 308 | 282 | 312 | 2,146 | (624) | (808) | (1,432) | 714 |
