(Download XLS:)  |
|
From continuing operations |
Long term |
General |
Total |
Long term |
General |
Total |
|---|---|---|---|---|---|---|
|
Claims paid |
|
|
|
|
|
|
|
– gross |
4,429 |
235 |
4,664 |
3,922 |
255 |
4,177 |
|
– reinsurance recoveries |
(406) |
(7) |
(413) |
(269) |
(3) |
(272) |
|
|
4,023 |
228 |
4,251 |
3,653 |
252 |
3,905 |
|
Change in insurance liabilities |
|
|
|
|
|
|
|
– gross |
(1,333) |
(44) |
(1,377) |
255 |
35 |
290 |
|
– reinsurance recoveries |
(182) |
8 |
(174) |
(66) |
(7) |
(73) |
|
Net claims and change in insurance liabilities |
2,508 |
192 |
2,700 |
3,842 |
280 |
4,122 |
In 2008, the change in long term insurance liabilities includes the impact arising from the current interest rate environment and increased credit spreads reducing liabilities, partially offset by the £650m of additional reserves for non profit annuity credit default, bringing the total reserve to £1.2bn.
In 2007, the change in long term insurance liabilities includes £214m relating to the strengthening of assumptions for annuitant longevity on existing business. This was largely offset by mortality and changes to expense assumptions on term business (on a gross reassurance basis), which reflected improved experience.