- 1. Basis of preparation
- 2. Covered business
- 3. Description of methodology
- 4. Embedded value
- 5. Service companies
- 6. New business
- 7. Projection assumptions
- 8. Tax
- 9. Allowance for risk
- 10. Required capital and free surplus
- 11. Financial options and guarantees
- 12. Risk discount rate
- 13. Analysis of profit
- 14. Significant Impacts
- 15. Present value of new business premiums (PVNBP)
- 16. Profit from continuing operations after tax from covered business
- 17. Life and pensions operating profit
- 18. Analysis of experience variances
- 19. Analysis of operating assumption changes
- 20. Variation from longer term investment return
- 21. Time value of options and guarantee
- 22. Investment management income statement
- 23. Other operational income
- 24. Analysis of tax
- 25. Tax impact of Corporate restructure/effect of UK tax changes
- 26. Earnings per share
- 27. Embedded value reconciliation
- 28. Analysis of ordinary shareholders’ equity
- 29. Segmental analysis of ordinary shareholders’ equity
- 30. Reconciliation of shareholder net worth (SNW)
- 31. Sensitivities
- 32. Assumptions
1. Basis of preparation
The supplementary financial statements have been prepared in accordance with the European Embedded Value (EEV) Principles issued in May 2004 by the European CFO Forum.
These supplementary financial statements have been audited by PricewaterhouseCoopers LLP and prepared in conjunction with our consulting actuaries – Tillinghast Towers-Perrin and, in the US, Milliman USA.