 |
|
|
|
|
|
|
|
|
| ASSETS |
|
Notes |
|
2002
£m |
|
|
2001
£m |
|
 |
| Intangible assets |
|
17 |
|
60.1 |
|
|
15.0 |
|
|
|
| Investments |
|
| Other financial investments |
|
18 |
|
773.9 |
|
|
510.4 |
|
|
|
| Reinsurers’ share of technical provisions |
|
| Provision for unearned premiums |
|
26 |
|
34.0 |
|
|
14.4 |
|
|
| Claims outstanding |
|
26 |
|
337.4 |
|
|
443.3 |
|
|
|
|
|
|
371.4 |
|
|
457.7 |
|
|
|
| Debtors |
|
| Debtors arising out of direct insurance operations |
|
20 |
|
235.2 |
|
|
108.8 |
|
|
| Debtors arising out of reinsurance operations |
|
|
|
113.5 |
|
|
206.8 |
|
|
| Other debtors |
|
|
|
71.3 |
|
|
97.5 |
|
|
| Deferred tax asset |
|
27 |
|
18.4 |
|
|
30.6 |
|
|
|
|
|
|
438.4 |
|
|
443.7 |
|
|
|
| Other assets |
|
| Tangible assets |
|
21 |
|
9.0 |
|
|
12.6 |
|
|
| Cash at bank and in hand |
|
|
|
31.6 |
|
|
23.2 |
|
|
| Own shares |
|
|
|
2.8 |
|
|
2.8 |
|
|
|
|
|
|
43.4 |
|
|
38.6 |
|
|
|
| Prepayments and accrued income |
|
| Deferred acquisition costs |
|
|
|
69.6 |
|
|
52.4 |
|
|
| Other prepayments and accrued income |
|
|
|
12.7 |
|
|
6.9 |
|
|
|
|
|
|
82.3 |
|
|
59.3 |
|
|
|
| Total assets |
|
|
|
1,769.5 |
|
|
1,524.7 |
|
|
|
| |
| LIABILITIES |
|
|
| Capital and reserves |
|
| Called up share capital |
|
22 |
|
97.1 |
|
|
52.1 |
|
|
| Shares to be issued |
|
24 |
|
- |
|
|
0.4 |
|
|
| Share premium account |
|
24 |
|
148.2 |
|
|
57.0 |
|
|
| Merger reserve |
|
24 |
|
41.9 |
|
|
41.9 |
|
|
| Capital redemption reserve |
|
24 |
|
2.7 |
|
|
2.7 |
|
|
| Profit and loss account |
|
24 |
|
19.7 |
|
|
(16.9 |
) |
|
|
| Equity shareholders’ funds |
|
25 |
|
309.6 |
|
|
137.2 |
|
|
|
| Technical provisions |
|
| Provision for unearned premiums |
|
26 |
|
354.8 |
|
|
271.1 |
|
|
| Claims outstanding |
|
26 |
|
957.4 |
|
|
1,003.5 |
|
|
|
|
|
|
1,312.2 |
|
|
1,274.6 |
|
|
|
| Provisions for other risks and charges |
|
27 |
|
2.9 |
|
|
1.0 |
|
|
|
| Creditors |
|
| Creditors arising out of direct insurance operations |
|
|
|
5.6 |
|
|
27.0 |
|
|
| Creditors arising out of reinsurance operations |
|
|
|
109.4 |
|
|
45.6 |
|
|
| Other creditors including taxation and social security |
|
28 |
|
20.4 |
|
|
32.5 |
|
|
|
|
|
|
135.4 |
|
|
105.1 |
|
|
|
| Creditors: amounts falling due after more than one year |
|
29 |
|
3.8 |
|
|
1.6 |
|
|
|
| Accruals and deferred income |
|
|
|
5.6 |
|
|
5.2 |
|
|
|
| Total liabilities |
|
|
|
1,769.5 |
|
|
1,524.7 |
|
|
|
| Net assets per ordinary share |
|
16 |
|
81.1 |
p |
|
67.8 |
p |
|
| Net tangible assets per ordinary share |
|
16 |
|
65.4 |
p |
|
60.4 |
p |
|
|
