1 Segmental Analysis
 2 Jackson National Life
 3 Investment Return
 4 Investment Income
 5 Policyholder Bonuses
 6 Net Operating Expenses
 7 Investment Expenses and Charges
 8 Tax
 9 Acquisitions and Disposals
 10 Information on Staff
 11 Directors’ Remuneration
 12 Fees Payable to Audit Firms
 13 Land and Buildings
14 Investments in Participating Interests
 15 Other Financial Investments
 16 Assets Held to Cover Linked Liabilities
 17 Share Capital and Share Premium
 18 Group Profit and Loss Account Reserve
 19 Long-term Business Provision
 20 Borrowings
 21 Reclassification of Certain Liabilities
 22 Investments of the Company
 23 Profit of the Company
 24 Subsidiary Undertakings
 25 Contingent Liabilities
 26 Cash Flow
 27 Post Balance Sheet Event

 

 

 

 

14 Investments in Participating Interests

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 Cost Current value
1998 £m 1997 £m 1998 £m 1997 £m
Interests in associated undertakings 146 156 58 61
Other participating interests 24 10 24 10
Total 170 166 82 71

Interests in associated undertakings are included in the consolidated balance sheet as the Group’s share of the undertakings’ net assets.

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Movement in Interests in Associated Undertakings Share of capital 1998 £m Share of reserves 1998 £m Share of investment 1998 £m
Profit for the year after taxation – 3 3
Dividends received – (1) (1)
Associate now recognised as subsidiary (5) – (5)
Movement in interests in associated undertakings (5) 2 (3)
Balance at beginning of year 30 31 61
Balance at end of year 25 33 58

The associated undertaking at the end of the year is St James’s Place Capital plc, which is incorporated in England and Wales and is listed on a recognised investment exchange. The proportion of ordinary shares held is 25.8% and all shares are held by a subsidiary company. The principal activity of the undertaking is the transacting of insurance business.

 

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