Consolidated Balance Sheet – European Embedded Value Basis.

 

(XLS:) Supplementary Financial Statements – European Embedded Value Basis – Consolidated Balance Sheet

As at 31 December 2012

Notes

2012

£m

2011
Restated1
£m

1.

The consolidated balance sheet has been restated to reflect the retrospective adoption of ASU 2010-26, issued by the FASB, which specifies the accounting for deferred acquisition costs under US GAAP. Details of this restatement are outlined in Note 1.

Assets

 

 

 

Investments

 

338,630

319,671

Long term in-force business asset

 

3,670

3,700

Other assets

 

7,460

6,680

Total assets

 

349,760

330,051

 

 

 

 

Equity

 

 

 

Shareholders’ equity

13/14

8,900

8,608

Non-controlling interests

 

39

66

Total equity

 

8,939

8,674

 

 

 

 

Liabilities

 

 

 

Subordinated borrowings

 

1,890

1,921

Unallocated divisible surplus

 

1,153

1,038

Participating contract liabilities

 

15,277

15,784

Non-participating contract liabilities

 

302,686

285,351

Senior borrowings

 

1,475

1,329

Other liabilities and provisions

 

18,340

15,954

Total liabilities

 

340,821

321,377

Total equity and liabilities

 

349,760

330,051