European Embedded Value (EEV) basis results

Summarised consolidated balance sheet

	2008 £m	2007** £m	2007** £m
	30 Jun	30 Jun	31 Dec
* Including liabilities in respect of insurance products classified as investment contracts under IFRS 4. ** See note 10.
Total assets less liabilities, excluding insurance funds	186,254	189,129	195,628
Less insurance funds*:
Policyholder liabilities (net of reinsurers’ share) and unallocated surplus of with-profits funds	(180,702)	(183,342)	(189,566)
Less shareholders' accrued interest in the long-term business	8,425	7,475	8,538
	(172,277)	(175,867)	(181,028)
Total net assets	13,977	13,262	14,600
Share capital	124	123	123
Share premium	1,838	1,823	1,828
IFRS basis shareholders' reserves	3,590	3,841	4,111
Total IFRS basis shareholders' equity	5,552	5,787	6,062
Additional EEV basis retained profit	8,425	7,475	8,538
Shareholders' equity (excluding minority interests)	13,977	13,262	14,600

IR LIBRARY