IFRS condensed financial statements
Consolidated income statement
For the six month period ended 30 June 2009
| 6 months 2009 €m |
6 months 2009 £m |
Restated 6 months 2008 £m |
Full year 2008 £m |
|
|---|---|---|---|---|
| Income | ||||
| 21,191 | Gross written premiums | 18,860 | 17,928 | 36,206 |
| (1,070) | Premiums ceded to reinsurers | (952) | (882) | (1,841) |
| 20,121 | Premiums written net of reinsurance | 17,908 | 17,046 | 34,365 |
| 37 | Net change in provision for unearned premiums | 33 | (190) | 277 |
| 20,158 | Net earned premiums | 17,941 | 16,856 | 34,642 |
| 900 | Fee and commission income | 801 | 950 | 1,885 |
| 3,056 | Net investment income/(expense) | 2,720 | (9,581) | (16,043) |
| (614) | Share of loss of joint ventures and associates | (547) | (344) | (1,128) |
| 22 | Profit on the disposal of subsidiaries and associates | 20 | 9 | 7 |
| 23,522 | 20,935 | 7,890 | 19,363 | |
| Expenses | ||||
| (15,980) | Claims and benefits paid, net of recoveries from reinsurers | (14,142) | (14,136) | (29,353) |
| (213) | Change in insurance liabilities, net of reinsurance | (190) | 3,471 | 3,885 |
| (1,089) | Change in investment contract provisions | (969) | 4,554 | 10,629 |
| (100) | Change in unallocated divisible surplus | (89) | 2,746 | 4,482 |
| (2,145) | Fee and commission expense | (1,909) | (2,276) | (4,411) |
| (2,522) | Other expenses | (2,245) | (2,234) | (5,416) |
| (803) | Finance costs | (715) | (708) | (1,547) |
| (22,762) | (20,259) | (8,583) | (21,731) | |
| 760 | Profit/(loss) before tax | 676 | (693) | (2,368) |
| 296 | Tax attributable to policyholders' returns | 264 | 672 | 1,068 |
| 1,056 | Profit/(loss) before tax attributable to shareholders' profits | 940 | (21) | (1,300) |
| Tax expense | ||||
| 530 | United Kingdom tax | 472 | 640 | 1,482 |
| (451) | Overseas tax | (401) | (31) | 1 |
| 79 | 71 | 609 | 1,483 | |
| (296) | Less: tax attributable to policyholders' returns | (264) | (672) | (1,068) |
| (217) | Tax attributable to shareholders' profits | (193) | (63) | 415 |
| 839 | Profit/(loss) for the period | 747 | (84) | (885) |
| Attributable to: | ||||
| 758 | Equity shareholders of Aviva plc | 675 | (97) | (915) |
| 81 | Minority interests | 72 | 13 | 30 |
| 839 | 747 | (84) | (885) | |
| Earnings per share | ||||
| 28.0c | Basic (pence per share) | 24.9p | (4.0)p | (36.8)p |
| 27.9c | Diluted (pence per share) | 24.8p | (4.0)p | (36.8)p |
