Consolidated income statement
For the year ended 31 December 2007
| 2007 | 2006 | ||
| Notes | £m | £m | |
Gross premium earned |
4,5 | 1,088.0 | 1,087.3 |
Insurance premium revenue from the receipt of reinsurance to close |
5 |
– |
78.8 |
Reinsurance premium ceded |
4,5 | (115.7) | (113.4) |
Net earned premium revenue |
5 | 972.3 | 1,052.7 |
Investment return |
4,6 | 157.0 | 115.1 |
Other operating income |
2.8 | 1.8 | |
Total income |
1,132.1 | 1,169.6 | |
Insurance claims and claims settlement expenses |
4,7 |
(380.1) |
(460.7) |
Insurance claims and claims settlement expenses relating to the receipt of reinsurance to close |
7 |
– |
(78.8) |
Insurance claims and claims settlement expenses recoverable from reinsurers |
4,7 |
25.9 |
58.5 |
Net insurance claims |
7 | (354.2) | (481.0) |
Expenses for the acquisition of insurance contracts |
8 |
(196.0) |
(195.4) |
Other operating expenses |
9 | (116.9) | (126.7) |
Total expense |
(312.9) | (322.1) | |
Results of operating activities |
465.0 | 366.5 | |
Finance costs |
12 | (20.0) | (23.8) |
Profit before tax |
13 | 445.0 | 342.7 |
Tax |
14 | (92.2) | (74.9) |
Total recognised profit for the year |
352.8 | 267.8 | |
Attributable to: |
|||
Equity holders of the Parent Company |
352.7 | 267.5 | |
Minority interests |
0.1 | 0.3 | |
| 352.8 | 267.8 | ||
Earnings per share from continuing operations attributable to equity holders of the Parent Company |
|||
Basic |
28 | 66.3p | 50.4p |
Diluted |
28 | 65.5p | 49.8p |
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