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.

 

Annual
2014
£m

Single
2014
£m

Annual
2013
£m

Single
2013
£m

1.

Platforms premiums include retail business only.

2.

Includes bonds and retail pensions.

3.

Includes retail unit trusts and structured products.

4.

Total LGR new business excludes £nil (2013: £270m) 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.

UK Retail Protection

165

148

UK Group Protection

65

70

France (LGF)

33

283

22

264

Netherlands (LGN)

8

111

8

107

Workplace Savings

592

1,061

660

747

Platforms (Cofunds and IPS)1

56

3,624

43

2,452

Suffolk Life

1,239

1,330

Mature retail savings2

10

791

11

790

With-profits

53

75

53

80

Total LGAS

982

7,184

1,015

5,770

Retail Investments3

13

4,018

12

3,427

Annuities

 

 

 

 

– Individual

591

1,277

– Bulk purchase

5,987

2,812

Total LGR4

6,578

4,089

US Protection

91

99

India (26% share)

4

40

5

46

Egypt (55% share)

13

13

Gulf (50% share)

2

3

2

3

Total emerging markets

19

43

20

49

Total worldwide new business

1,105

17,823

1,146

13,335