New business
Geographical analysis of life, pension and investment sales
|
Present value of new business premiums |
||||
|---|---|---|---|---|
| 6 months 2009 £m |
Restated 6 months 2008 £m |
Sterling growth % |
Local currency growth % |
Life and pensions |
| Individual pensions | 1,918 | 2,038 | (6)% | (6)% |
| Group pensions | 171 | 372 | (54)% | (54)% |
| Annuities | 833 | 1,286 | (35)% | (35)% |
| Bonds | 1,219 | 1,628 | (27)% | (27)% |
| Protection | 461 | 606 | (24)% | (24)% |
| Equity release | 133 | 80 | 66% | 66% |
| United Kingdom | 4,735 | 6,010 | (21)% | (21)% |
| Euro funds | 1,986 | 1,374 | 45% | 25% |
| Unit-linked funds | 338 | 587 | (42)% | (50)% |
| Protection business | 116 | 101 | 15% | (1)% |
| France | 2,440 | 2,062 | 18% | 2% |
| Life and savings | 160 | 306 | (48)% | (55)% |
| Pensions | 266 | 393 | (32)% | (42)% |
| Ireland | 426 | 699 | (39)% | (48)% |
| Italy | 2,198 | 1,305 | 68% | 45% |
| Life | 369 | 530 | (30)% | (40)% |
| Pensions | 1,411 | 1,555 | (9)% | (22)% |
| Netherlands (including Belgium and Germany) | 1,780 | 2,085 | (15)% | (26)% |
| Life and savings | 168 | 472 | (64)% | (63)% |
| Pensions | 386 | 479 | (19)% | (12)% |
| Poland | 554 | 951 | (42)% | (37)% |
| Life and savings | 997 | 874 | 14% | (2)% |
| Pensions | 248 | 421 | (41)% | (49)% |
| Spain | 1,245 | 1,295 | (4)% | (17)% |
| Other Europe | 208 | 667 | (69)% | (69)% |
| Europe | 8,851 | 9,064 | (2)% | (13)% |
| Life | 374 | 273 | 37% | 3% |
| Annuities | 2,815 | 1,579 | 78% | 34% |
| Funding agreements | - | 375 | (100)% | (100)% |
| North America | 3,189 | 2,227 | 43% | 8% |
| Australia | 166 | 212 | (22)% | (23)% |
| Singapore | 90 | 168 | (46)% | (57)% |
| Hong Kong | 52 | 164 | (68)% | (76)% |
| India | 43 | 119 | (64)% | (67)% |
| China | 167 | 162 | 3% | (25)% |
| South Korea | 127 | - | 100% | 100% |
| Other Asia | 53 | 71 | (25)% | (39)% |
| Asia Pacific | 698v | 896 | (22)% | (32)% |
| Total life and pensions | 17,473 | 18,197 | (4)% | (15)% |
| 6 months 2009 £m |
Restated 6 months 2008 £m |
Sterling growth % |
Local currency growth % |
|
|---|---|---|---|---|
| Investment sales | ||||
| United Kingdom1 | 418 | 840 | (50)% | (50)% |
| Netherlands | 357 | 221 | 62% | 39% |
| Poland | 23 | 46 | (50)% | (46)% |
| Other business | 400 | 259 | 54% | 33% |
| Europe | 780 | 526 | 48% | 29% |
| Australia | 518 | 840 | (38)% | (39)% |
| Singapore | 232 | 211 | 10% | (12)% |
| Asia Pacific | 750 | 1,051 | (29)% | (34)% |
| Total investment sales | 1,948 | 2,417 | (19)% | (26)% |
| Total long-term savings sales | 19,421 | 20,614 | (6)% | (16)% |
1. UK regular premium investment sales include SIPP products. These are similar in nature to pension products and their payment pattern is stable and predictable and accordingly they have been capitalised. Regular premium SIPP sales for the 6 months to 30 June 2009 totalled £2.3 million (2008: £15.7 million) and have been capitalised using a weighted average capitalisation factor of 5.0 (2008: 5.0). As such, regular premium SIPP sales have produced an overall contribution to investment sales of £11.5 million (2008: £78 million) out of the UK investment sales of £418 million (2008: £840 million).
