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Consolidated Balance Sheet

As at 31 December 2008


(Download XLS:)

 

Notes

2008
£m

2007
£m

Assets

 

 

 

Investment in associates

1D/46

14

14

Plant and equipment

1M/16

75

79

Investment property

1L/17

3,969

5,969

Financial investments

1L/18

234,514

261,718

Reinsurers’ share of contract liabilities

1J/20

1,997

1,530

Purchased interest in long term businesses and other intangible assets

1K/21

227

19

Deferred acquisition costs

1F,G,H/22

2,112

1,696

Deferred tax asset

1R/23

988

–

Income tax recoverable

1R/24

8

4

Other assets

25

2,135

1,519

Cash and cash equivalents

1O/26

10,688

8,737

Total assets

3(iii)

256,727

281,285

 

 

 

 

Equity

 

 

 

Share capital

1U/27

147

157

Share premium account

27

936

927

Employee scheme shares

1U/27

(46)

(42)

Capital redemption and other reserves

28

(42)

59

Retained earnings

30

2,593

4,345

Shareholders’ equity

 

3,588

5,446

Minority interests

31

144

178

Total equity

3(iii)/32

3,732

5,624

 

 

 

 

Liabilities

 

 

 

Subordinated borrowings

1Q/38

1,657

1,461

 

 

 

 

Participating insurance contracts

1F/33

9,384

11,663

Participating investment contracts

1G/34

6,992

7,462

Unallocated divisible surplus

1F/35

913

1,721

Value of in-force non-participating contracts

1F/36

(171)

(276)

Participating contract liabilities

 

17,118

20,570

 

 

 

 

Non-participating insurance contracts

1F,H/33

25,841

22,873

Non-participating investment contracts

1G/34

196,698

224,906

Non-participating contract liabilities

 

222,539

247,779

 

 

 

 

Senior borrowings

1Q/38

2,314

1,327

Provisions

1T,W/39

741

742

Deferred tax liabilities

1R/23

259

296

Income tax liabilities

1R/24

5

113

Payables and other financial liabilities

40

6,613

1,609

Other liabilities

41

997

852

Net asset value attributable to unit holders

 

752

912

Total liabilities

3(iii)

252,995

275,661

Total equity and liabilities

 

256,727

281,285

The notes form an integral part of these financial statements.

The financial statements and the supplementary financial statements were approved by the directors on 24 March 2009 and were signed on their behalf by:

Signature Sir Rob Margetts, Chairman (handwriting)

Sir Rob Margetts
Chairman
Signature Tim Breedon, Group Chief Executive (handwriting)

Tim Breedon
Group Chief Executive
Signature Andrew Palmer, Group Director (Finance) (handwriting)

Andrew Palmer
Group Director (Finance)

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