Preliminary results year ended 31 December 2008
05 March 2009
M22 – Summary of minority interest in life and related businesses' MCEV results
| 2008 | France £m |
Ireland £m |
Italy £m |
Nether -lands £m |
Poland £m |
Spain £m |
Europe £m |
Asia Pacific £m |
Total £m |
Share-holders’ interest £m |
Group £m |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Value of new business, net of tax | 9 | 3 | 27 | 12 | 7 | 85 | 143 | – | 143 | 409 | 552 |
| Life MCEV operating earnings after tax | 29 | 17 | 50 | 5 | 24 | 102 | 227 | – | 227 | 1,753 | 1,980 |
| Life MCEV (loss)/earnings after tax | 18 | (21) | (30) | (22) | 20 | (72) | (107) | – | (107) | (6,885) | (6,992) |
| Closing covered businesses’ embedded value | 304 | 323 | 727 | 204 | 177 | 550 | 2,285 | 15 | 2,300 | 14,089 | 16,389 |
| Restated 2007 | France £m |
Ireland £m |
Italy £m |
Nether -lands £m |
Poland £m |
Spain £m |
Europe £m |
Asia Pacific £m |
Total £m |
Share-holders’ interest £m |
Group £m |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Value of new business, net of tax | 14 | 6 | 27 | 3 | 5 | 70 | 125 | 1 | 126 | 504 | 630 |
| Life MCEV operating earnings after tax | 32 | 19 | 46 | 19 | 18 | 88 | 222 | 1 | 223 | 1,567 | 1,790 |
| Life MCEV earnings after tax | 24 | 15 | 66 | 13 | 22 | 57 | 197 | 3 | 200 | 1,619 | 1,819 |
| Closing covered businesses’ embedded value | 235 | 266 | 551 | 158 | 154 | 472 | 1,836 | 12 | 1,848 | 18,248 | 20,096 |
There are no minority interests in the United Kingdom or North America.
