B10 Risk allowance within present value of in-force (VIF)
B10 – Risk allowance within present value of in-force (VIF)
Within the VIF in the tables above, there are additional allowances for risks not included within the basic present value of future profits calculation.
| 2009 | PVFP £m |
Frictional costs £m |
Non-hedgeable risks £m |
Time value of financial options and guarantees £m |
VIF £m |
|---|---|---|---|---|---|
| United Kingdom | 2,572 | (285) | (197) | (25) | 2,065 |
| France | 2,048 | (144) | (155) | (497) | 1,252 |
| Ireland | 517 | (9) | (21) | — | 487 |
| Italy | 189 | (22) | (11) | (27) | 129 |
| Poland | 1,050 | (17) | (74) | (9) | 950 |
| Spain | 326 | (16) | (28) | (17) | 265 |
| Other Europe | 198 | (3) | (5) | (2) | 188 |
| Aviva Europe | 4,328 | (211) | (294) | (552) | 3,271 |
| Delta Lloyd | 487 | (129) | (80) | (210) | 68 |
| Europe | 4,815 | (340) | (374) | (762) | 3,339 |
| North America | 80 | (9) | (45) | (420) | (394) |
| Asia | 324 | (19) | (30) | (34) | 241 |
| Australia | — | — | — | — | — |
| Asia Pacific | 324 | (19) | (30) | (34) | 241 |
| Total | 7,791 | (653) | (646) | (1,241) | 5,251 |
| Restated 2008 |
PVFP £m |
Frictional costs £m |
Non-hedgeable risks £m |
Time value of financial options and guarantees £m |
VIF £m |
|---|---|---|---|---|---|
| United Kingdom | 2,470 | (176) | (165) | (76) | 2,053 |
| France | 1,827 | (174) | (147) | (414) | 1,092 |
| Ireland | 637 | (10) | (24) | — | 603 |
| Italy | 196 | (22) | (12) | (13) | 149 |
| Poland | 1,074 | (14) | (73) | (8) | 979 |
| Spain | 422 | (18) | (32) | (18) | 354 |
| Other Europe | 169 | (4) | (4) | (2) | 159 |
| Aviva Europe | 4,325 | (242) | (292) | (455) | 3,336 |
| Delta Lloyd | 1,208 | (246) | (132) | (319) | 511 |
| Europe | 5,533 | (488) | (424) | (774) | 3,847 |
| North America | (1,224) | (29) | (43) | (150) | (1,446) |
| Asia | 262 | (20) | (23) | (26) | 193 |
| Australia | 132 | (27) | (26) | (10) | 69 |
| Asia Pacific | 394 | (47) | (49) | (36) | 262 |
| Total | 7,173 | (740) | (681) | (1,036) | 4,716 |
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