7 Investments

 

Shares in group companies
2014
£m

Loans to group companies
2014
£m

Total
2014
£m

Shares in group companies
2013
£m

Loans to group companies
2013
£m

Total
2013
£m

1.

In 2013, the Company received a dividend of £146m in respect of Banner Life shares at net asset value from Legal & General Insurance Holdings (No.2) Limited. The Company then passed these shares to Legal & General Overseas Operations Limited in return for £1 share capital and £146m share premium.

At valuation, 1 January

5,749

744

6,493

5,549

741

6,290

Additions1

431

11

442

385

385

Revaluation1

430

430

(185)

3

(182)

At valuation, 31 December

6,610

755

7,365

5,749

744

6,493

At cost, 31 December

3,610

757

4,367

3,180

746

3,926

Additions represent capital injections into group undertakings.

Full disclosure of the Company’s investments in subsidiary undertakings is contained in Note 47 of the group’s consolidated financial statements.