Analysis of sales via bancassurance channels
| Present value of new business premiums1 | ||||
|---|---|---|---|---|
|
12 months 2009 £m |
Restated2 12 months 2008 £m |
Sterling growth | Local currency growth3 | |
| Bancassurance | ||||
| United Kingdom – RBS | 1,246 | 1,211 | 3% | 3% |
| France – Credit du Nord | 1,141 | 898 | 27% | 15% |
| Ireland – Allied Irish Bank | 436 | 653 | (33)% | (40)% |
| UniCredit Group | 1,651 | 894 | 85% | 67% |
| Eurovita | 563 | 155 | 263% | 228% |
| Unione di Banche | 940 | 871 | 8% | (2)% |
| Other | 131 | 101 | 30% | 17% |
| Italy | 3,285 | 2,021 | 63% | 47% |
| Poland | 18 | 441 | (96)% | (95)% |
| Bancaja | 704 | 582 | 21% | 9% |
| Caixa Galicia | 225 | 318 | (29)% | (36)% |
| Unicaja | 750 | 675 | 11% | – |
| Caja España | 301 | 213 | 41% | 28% |
| Other | 229 | 418 | (45)% | 50% |
| Spain | 2,209 | 2,206 | – | (9)% |
| Other Europe | 57 | 47 | 21% | 27% |
| Aviva Europe | 7,146 | 6,266 | 14% | 5% |
| Delta Lloyd4 – ABN Amro | 398 | 466 | (15)% | (23)% |
| Europe | 7,544 | 6,732 | 12% | 3% |
| North America | – | 11 | (100)% | (100)% |
| Asia Pacific | 471 | 674 | (30)% | (38)% |
| Total life and pensions | 9,261 | 8,628 | 7% | (1)% |
| Investment sales5 | ||||
| United Kingdom – RBS | 177 | 428 | (59)% | (59)% |
| TOTAL BANCASSURANCE SALES | 9,438 | 9,056 | 4% | (3)% |
1 Present value of new business premiums (PVNBP) is the present value of new regular premiums plus 100% of single premiums, calculated using assumptions consistent with those used to determine new business contribution.
2 The restatement in Spain of £38 million in 2008 is due to the reclassification of incremental premiums on annual renewable term contracts from new business to existing business
3 Growth rates are calculated based on constant rates of exchange.
4 Delta Lloyd, which operates in the Netherlands, Belgium and Germany, is managed independently from our other European businesses
5 Investment sales are calculated as new single premium plus annualised value of new regular premiums.
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