Aviva plc Interim report 2004 - Summarised consolidated balance sheet

Aviva plc
Interim report 2004

Highlights

Chairman's statement

Group Chief Executive's review

	Overview
	Long-term savings
	Fund management
	General insurance
	Corporate costs
	Cost savings
	Outlook

Financials

Shareholder information

Download Interim (PDF)


	Long-term business	General business and other	Group	Long-term business	Restated* General business and other	Restated* Group	Group
	30 June 2004 £m	30 June 2004 £m	30 June 2004 £m	30 June 2003 £m	30 June 2003 £m	30 June 2003 £m	31 Dec 2003 £m

Total assets before acquired additional value of in-force long-term business	179,990	29,712	209,702	168,853	28,570	197,423	208,192
Acquired additional value of in-force long-term business	458	-	458	522	-	522	488
Total assets included in the modified statutory balance sheet	180,448	29,712	210,160	169,375	28,570	197,945	208,680

Liabilities of the long-term business	(173,147)	-	(173,147)	(162,133)	-	(162,133)	(170,765)
Liabilities of the general insurance business	-	(27,110)	(27,110)	-	(27,333)	(27,333)	(27,736)
Net assets on a modified statutory basis	7,301	2,602	9,903	7,242	1,237	8,479	10,179

Additional value of in-force long-term business¹	4,851	-	4,851	4,043	-	4,043	4,744
Net assets on an achieved profit basis²	12,152	2,602	14,754	11,285	1,237	12,522	14,923

Shareholders' capital, share premium, shares held by employee trusts and merger reserves			4,604			4,666	4,622
Modified statutory basis retained profit			1,773			1,810	1,932
Additional achieved profit basis retained profit			4,677			3,942	4,611
Shareholders' funds on an achieved profit basis			11,054			10,418	11,165

Minority interests			949			879	944
			12,003			11,297	12,109
Subordinated debt			2,751			1,225	2,814

Achieved profit basis total capital, reserves and subordinated debt			14,754			12,522	14,923
*Restated for the effect of a change in accounting policy in respect of the treatment of shares held by employee trusts as a deduction from shareholders' capital. Further details are set out in the notes to the accounts.

Approved by the Board on 3 August 2004



1 The analysis between the Group's and the minority interest share of the additional value of in-force long-term business is as follows:
					30 June 2004 £m	Movement in the period £m	31 Dec 2003 £m
Group's share included in shareholders' funds					4,677	66	4,611
Minority interest share					174	41	133
Balance					4,851	107	4,744

2 Analysis of net assets on an achieved profit basis is made up as follows:
					30 June 2004 £m	30 June 2003 £m	31 Dec 2003 £m
Long-term business net assets on an achieved profit basis					12,152	11,285	12,373

Comprises:
Embedded value					11,941	11,061	12,155
RBSG goodwill					211	224	218
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