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2008 was a year in which we worked hard to embed the five strategic principles we articulated last year into our day-to-day business and made sure our businesses were delivering on them. For example, we have diversified our product range by acquiring Suffolk Life's [SIPP] business and broadened distribution as the Nationwide Building Society partnership has come on stream.
We have worked hard to improve customer experience, by encouraging better client service and retention and by the continued application of the Treating Customers Fairly principles. Financial strength has been crucial in the tough climate of 2008. As well as continuing our active balance-sheet management, we have made a push towards ‘capital-light’ products. This enables the business we write to become cash-positive more quickly.
We continually seek to improve business performance through increasing use of technology and a more sophisticated understanding of the insurance risks that we assume. For example, the longevity characteristics of our growing book of annuities. Delivering our strategy is a work in progress but I think we made good progress in 2008. Our Annual Report gives plenty of examples of how we are putting strategy into action.