16 Reconciliation of shareholder net worth (SNW).


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UK covered business
2010
£m

Total
2010
£m

UK covered business
2009
£m

Total
2009
£m

1.

On an [EEV] basis the contingent loan (between Society and LGPL) is modelled within the [VIF]. On an [IFRS] basis the contingent loan asset is included within the Group capital and financing net assets.

2.

Deferred tax represents all tax which is expected to be paid under current legislation.

3.

Other total business also includes the different treatment of the US Triple X securitisation on an EEV and IFRS basis.

SNW of long term operations (IFRS basis)

4,154

5,781

3,876

5,214

Other liabilities ([IFRS] basis)

(954)

(1,018)

Shareholders’ equity on the IFRS basis

4,154

4,827

3,876

4,196

Purchased interest in long term business

(86)

(91)

(114)

(126)

Deferred acquisition costs/
deferred income liabilities

(253)

(1,211)

(250)

(1,132)

Contingent loan1

(551)

(551)

(421)

(421)

Deferred tax2

(238)

85

(324)

(33)

Other3

9

(230)

(179)

(396)

Shareholder net worth on the EEV basis

3,035

2,829

2,588

2,088

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