6 New business.

6 New business.

New business premiums reflect income arising from the sale of new contracts during the reporting period and any changes to existing contracts, which were not anticipated at the outset of the contract.

New annual premiums arise where the terms and conditions of a policy anticipate more than one premium being paid over its lifetime; new single premiums comprise all premiums which are not categorised as new annual premiums.

(XLS:) New business

 

Annual
2013
£m

Single
2013
£m

Annual
2012
£m

Single
2012
£m

1.

Platforms premiums includes retail business only.

2.

Includes bonds and retail pensions.

3.

Includes retail unit trusts and structured products.

4.

Total LGR new business excludes £270m (2012: £nil) of annual premiums in relation to longevity transactions. It is not included in the table due to the unpredictable deal flow from this type of business.

Group Protection

70

70

Retail Protection

148

151

France (LGF)

22

264

38

233

Netherlands (LGN)

8

107

13

82

Workplace Savings

660

747

502

1,115

Platforms (Cofunds & IPS)1

43

2,452

59

2,137

Suffolk Life

1,330

774

Mature retail savings2

11

790

17

1,331

With-profits

53

80

58

342

Total LGAS

1,015

5,770

908

6,014

Retail Investments3

12

3,427

10

2,311

Annuities

 

 

 

 

– Individual

1,277

1,320

– Bulk purchase

2,812

1,019

Total LGR4

4,089

2,339

US Protection

99

90

India (26% share)

5

46

7

24

Egypt (55% share)

13

14

Gulf (50% share)

2

3

4

6

Total emerging markets new business

20

49

25

30

Total worldwide new business

1,146

13,335

1,033

10,694

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