Financial statements
Consolidated Income Statement
For the year ended 31 December 2006
| Notes | 2006 £m |
2005 (restated) £m |
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 |
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Gross premium earned |
1,2 | 1,087.3 | 986.7 |
Insurance premium revenue from the receipt of reinsurance to close |
2 | 78.8 | 78.6 |
Reinsurance premium ceded |
1,2 | (113.4) | (164.6) |
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Net earned premium revenue |
2 | 1,052.7 | 900.7 |
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Investment return |
1,3 | 115.1 | 90.9 |
Other operating income |
4 | 1.8 | 1.4 |
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Total income |
1,169.6 | 993.0 | |
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Insurance claims and claims settlement expenses |
1,5 | (460.7) | (912.1) |
Insurance claims and claims settlement expenses relating to the receipt of reinsurance to close |
5 | (78.8) | (78.6) |
Insurance claims and claims settlement expenses recoverable from reinsurers |
1,5 | 58.5 | 436.4 |
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Net insurance claims |
5 | (481.0) | (554.3) |
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Expenses for the acquisition of insurance contracts |
6 | (195.4) | (170.2) |
Other operating expenses |
7 | (126.7) | (71.4) |
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Total expense |
(322.1) | (241.6) | |
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Results of operating activities |
366.5 | 197.1 | |
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Finance costs |
10 | (23.8) | (10.4) |
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Profit before tax |
11 | 342.7 | 186.7 |
Tax |
12 | (74.9) | (46.5) |
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Total recognised profit for the year |
267.8 | 140.2 | |
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Attributable to: |
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Equity holders of the Parent Company |
267.5 | 140.2 | |
Minority interests |
0.3 | - | |
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| 267.8 | 140.2 | ||
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Earnings per share from continuing operations attributable to equity holders of the parent company |
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Basic |
26 | 50.4p | 34.3p |
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Diluted |
26 | 49.8p | 33.7p |
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