Consolidated income statement.

For the year ended 31 December 2009


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Notes

2009
£m

2008
£m

Revenue

 

 

 

Gross written premiums

1F,G,H/3(iv)

5,275

5,895

Outward reinsurance premiums

1J

(574)

(569)

Net change in provision for unearned premiums

1H

11

1

Net premiums earned

 

4,712

5,327

Fees from fund management and investment contracts

1G

786

740

Investment return

1Z/5

38,201

(37,749)

Operational income

1AA

91

38

Total revenue

3(ii)

43,790

(31,644)

 

 

 

 

Expenses

 

 

 

Claims and change in insurance liabilities

 

7,614

3,287

Reinsurance recoveries

 

(520)

(587)

Net claims and change in insurance liabilities

1F,H/6

7,094

2,700

Change in provisions for investment contract liabilities

1G

33,186

(33,313)

Acquisition costs

1F,G,H

780

776

Finance costs

1Q

179

379

Other expenses

1AA

882

773

Transfers to/(from) unallocated divisible surplus

1F

430

(806)

Total expenses

 

42,551

(29,491)

 

 

 

 

Profit/(loss) before income tax

9

1,239

(2,153)

Income tax (expense)/credit attributable to policyholder returns

11

(165)

662

Profit/(loss) from continuing operations before income tax attributable to equity holders of the Company

 

1,074

(1,491)

Total income tax (expense)/credit

1R/11

(395)

1,023

Income tax expense/(credit) attributable to policyholder returns

11

165

(662)

Income tax (expense)/credit attributable to equity holders

11

(230)

361

Profit/(loss) for the year

 

844

(1,130)

 

 

 

 

Attributable to:

 

 

 

Minority interests

29

(19)

(63)

Equity holders of the Company

 

863

(1,067)

 

 

 

 

Dividend distributions to equity holders of the Company
during the year

1U/12

185

367

Dividend distributions to equity holders of the Company
proposed after the year end

1U/12

160

120

 

 

 

 

 

 

p

p

Earnings per share

 

 

 

Based on profit/(loss) attributable to equity holders of the Company

1AB/13

14.82

(17.88)

 

 

 

 

Diluted earnings per share

 

 

 

Based on profit/(loss) attributable to equity holders of the Company

1AB/13

14.73

(17.88)

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