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Life profits reporting
In reporting the Aviva plc headline operating profit, life profits have been included using the achieved profit basis. This is used throughout the Aviva group and by many in the investment community to assess performance. The modified statutory basis, which is used in our accounts, is also identified in the headline figures. We have focused on the achieved profit basis, as we believe life achieved operating profit is a more realistic measure of the performance of life business than the modified statutory basis. Life modified statutory operating profit before tax amounted to £1,138 million. The basis used for reporting achieved profit is consistent with the guidance circulated by the Association of British Insurers.
*From continuing operations, including life achieved operating profit, before amortisation of goodwill and exceptional items.
**From continuing operations, including share of associates’ premiums.
***On an achieved profit basis.
†Based on gross worldwide premiums
All growth rates in this document are quoted at constant rates of exchange.
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