International Financial Reporting Standards (IFRS) basis results
Summary consolidated income statement
Download Summary consolidated income statement as Excel file
| 2008 £m | 2007** £m | 2007** £m | |
|---|---|---|---|
| Half year | Half year | Full year | |
| Earned premiums, net of reinsurance | 8,926 | 7,903 | 18,188 |
| Investment return note C | (9,752) | 8,258 | 12,225 |
| Other income | 453 | 1,094 | 2,457 |
| Total revenue, net of reinsurance note C | (373) | 17,255 | 32,870 |
| Benefits and claims and movement in unallocated surplus of with-profits funds, net of reinsurance | 1,479 | (14,177) | (26,785) |
| Acquisition costs and other operating expenditure | (1,763) | (2,350) | (4,859) |
| Finance costs: interest on core structural borrowings of shareholder-financed operations | (82) | (88) | (168) |
| Total charges, net of reinsurance note C | (366) | (16,615) | (31,812) |
| (Loss) profit before tax (being tax attributable to shareholders' and policyholders' returns)* note C | (739) | 640 | 1,058 |
| Tax attributable to policyholders' returns | 637 | 15 | 5 |
| (Loss) profit before tax attributable to shareholders note D | (102) | 655 | 1,063 |
| Tax credit (expense) note E | 625 | (219) | (349) |
| Less: tax attributable to policyholders' returns | (637) | (15) | (5) |
| Tax attributable to shareholders' (loss) profit note E | (12) | (234) | (354) |
| (Loss) profit from continuing operations after tax note C | (114) | 421 | 709 |
| Discontinued operations (net of tax) note N | - | 241 | 241 |
| (Loss) profit for the period | (114) | 662 | 950 |
| Attributable to: | |||
| Equity holders of the Company | (116) | 661 | 947 |
| Minority interests | 2 | 1 | 3 |
| (Loss) profit for the period | (114) | 662 | 950 |
