32 Unallocated divisible surplus.


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2010
£m

2009
£m

As at 1 January

1,284

913

Transferred from the income statement

190

430

Actuarial (losses) on defined benefit pension schemes transferred from the statement of comprehensive income

(4)

(62)

Foreign exchange adjustments

(1)

3

As at 31 December

1,469

1,284

It is intended that the with-profits part of the LTF will be managed on the basis that it will remain open to new business and therefore there is no expectation of any distribution from the inherited estate.

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