| |
Notes |
2005
£m |
2004
£m |
|
| Gross premiums earned |
|
986.7 |
883.7 |
| Insurance premium revenue from the receipt of reinsurance to close |
|
78.8 |
15.3 |
| Reinsurance premium ceded |
|
(164.6) |
(161.3) |
|
| Net insurance premium revenue |
|
900.9 |
737.7 |
|
| Investment return |
|
90.9 |
52.1 |
| Other operating income |
|
1.4 |
7.4 |
|
| Net income |
|
993.2 |
797.2 |
| |
| Insurance claims and loss adjustment expenses |
|
(912.1) |
(542.2) |
| Insurance claims and loss adjustment expenses relating to the receipt of reinsurance to close |
|
(78.8) |
(15.3) |
| Insurance claims and loss adjustment expenses recoverable from reinsurers |
|
436.4 |
163.0 |
|
| Net insurance claims |
|
(554.5) |
(394.5) |
|
| Expenses for the acquisition of insurance contracts |
|
(170.2) |
(161.7) |
| Expenses for asset management fees |
|
(2.3) |
(1.3) |
| Other operating expenses |
|
(73.1) |
(106.0) |
|
| Expenses |
|
(245.6) |
(269.0) |
|
| |
|
|
|
|
| Results of operating activities |
|
193.1 |
133.7 |
|
| Finance costs |
|
(10.4) |
(4.8) |
|
| Profit before tax |
|
182.7 |
128.9 |
|
| Tax |
|
(45.3) |
(37.9) |
|
| Profit for the financial year attributable to equity shareholders |
|
137.4 |
91.0 |
|
| |
|
|
|
| Earnings per share |
|
|
|
| Basic |
|
33.6p |
23.4p |
| Diluted |
|
33.1p |
23.1p |
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