Annual Returns to Financial Services Authority for the year ended 31 December 2011 Prepared in accordance with the Accounts and Statements Rules Appendices ONE COLEMAN STREET, LONDON EC2R 5AA
`çåíéåíë _~ä~ååé=püééí=~åç=mêçñáí=~åç=içëë=^ååçìåí cçêã=n pí~íéãéåí=çñ=ëçäîéååó=j=öéåéê~ä=áåëìê~ååé=äìëáåéëë N cçêã=o pí~íéãéåí=çñ=ëçäîéååó=j=äçåöjíéêã=áåëìê~ååé=äìëáåéëë P cçêã=p `çãéçåéåíë=çñ=å~éáí~ä=êéëçìêåéë Q cçêã=nn `~äåìä~íáçå=çñ=öéåéê~ä=áåëìê~ååé=å~éáí~ä=êéèìáêéãéåí=j=éêéãáìãë= T ~ãçìåí=~åç=äêçìöüí=ñçêï~êç=~ãçìåí cçêã=no `~äåìä~íáçå=çñ=öéåéê~ä=áåëìê~ååé=å~éáí~ä=êéèìáêéãéåí=j=åä~áãë= V ~ãçìåí=~åç=êéëìäí cçêã=np ^å~äóëáë=çñ=~çãáëëáääé=~ëëéíë NN cçêã=nq içåö=íéêã=áåëìê~ååé=äìëáåéëë=äá~äáäáíáéë=~åç=ã~êöáåë OP cçêã=nr iá~äáäáíáéë=eçíüéê=íü~å=äçåö=íéêã=áåëìê~ååé=äìëáåéëëf OS cçêã=ns mêçñáí=~åç=äçëë=~ååçìåí=eåçåjíéåüåáå~ä=~ååçìåíf OT cçêã=nt ^å~äóëáë=çñ=çéêáî~íáîé=åçåíê~åíë OU cçêã=nu táíüjéêçñáíë=áåëìê~ååé=å~éáí~ä=åçãéçåéåí=ñçê=íüé=ñìåç PO cçêã=nv oé~äáëíáå=ä~ä~ååé=ëüééí PP déåéê~ä=fåëìê~ååé=_ìëáåéëëw=oéîéåìé=^ååçìåí=~åç=^ççáíáçå~ä=fåñçêã~íáçå cçêã=om^ pìãã~êó=çñ=äìëáåéëë=å~êêáéç=çå PR cçêã=om qéåüåáå~ä=~ååçìåí=eéñåäìçáåö=éèì~äáë~íáçå=éêçîáëáçåëf PU cçêã=oo ^ÅÅáÇÉåí=óÉ~ê=~ÅÅçìåíáåÖW=^å~äóëáë=çÑ=Åä~áãëI=ÉñéÉåëÉë=~åÇ= PV íéåüåáå~ä=éêçîáëáçåë cçêã=op ^ÅÅáÇÉåí=óÉ~ê=~ÅÅçìåíáåÖW=^å~äóëáë=çÑ=åÉí=Åä~áãë=~åÇ=éêÉãáìãë QM cçêã=oq råçéêïêáíáåö=óé~ê=~ååçìåíáåöw=^å~äóëáë=çñ=éêéãáìãëi=åä~áãë=~åç= QN ÉñéÉåëÉë cçêã=or råçéêïêáíáåö=óé~ê=~ååçìåíáåöw=^å~äóëáë=çñ=íéåüåáå~ä=éêçîáëáçåë= QO cçêã=pt bèì~äáë~íáçå=éêçîáëáçåë QP cçêã=pv bèì~äáë~íáçå=éêçîáëáçåë=íéåüåáå~ä=~ååçìåíw=råçéêïêáíáåö=óé~ê= ~ÅÅçìåíáåÖ QQ içåö=qéêã=fåëìê~ååé=_ìëáåéëëw=oéîéåìé=^ååçìåí=~åç=^ççáíáçå~ä=fåñçêã~íáçå cçêã=qm oéîéåìé=~ååçìåí QR cçêã=qn ^å~äóëáë=çñ=éêéãáìãë QU cçêã=qo ^å~äóëáë=çñ=åä~áãë RN cçêã=qp ^å~äóëáë=çñ=éñééåëéë RQ cçêã=qq iáåâéç=ñìåçë=ä~ä~ååé=ëüééí RT cçêã=qr oéîéåìé=~ååçìåí=ñçê=áåíéêå~ä=äáåâéç=ñìåçë RU cçêã=qs pìãã~êó=çñ=åéï=äìëáåéëë RV cçêã=qt ^å~äóëáë=çñ=åéï=äìëáåéëë SM cçêã=qu ^ëëéíë=åçí=üéäç=íç=ã~íåü=äáåâéç=äá~äáäáíáéë SU cçêã=qv cáñéç=~åç=î~êá~ääé=áåíéêéëí=~ëëéíë TN cçêã=rm pìãã~êó=çñ=ã~íüéã~íáå~ä=êéëéêîéë TQ cçêã=rn s~äì~íáçå=ëìãã~êó=çñ=åçåjäáåâéç=åçåíê~åíë=eçíüéê=íü~å= TT ~ÅÅìãìä~íáåÖ=ïáíÜJéêçÑáíë=Åçåíê~ÅíëF cçêã=ro s~äì~íáçå=ëìãã~êó=çñ=~ååìãìä~íáåö=ïáíüjéêçñáíë=åçåíê~åíë VP cçêã=rp s~äì~íáçå=ëìãã~êó=çñ=éêçééêíó=äáåâéç=åçåíê~åíë VU cçêã=rq s~äì~íáçå=ëìãã~êó=çñ=áåçéñ=äáåâéç=åçåíê~åíë NNN cçêã=rr råáí=éêáåéë=ñçê=áåíéêå~ä=äáåâéç=ñìåçë NNT cçêã=rs fåçéñ=äáåâéç=äìëáåéëë NNU cçêã=rt ^å~äóëáë=çñ=î~äì~íáçå=áåíéêéëí=ê~íé NNV cçêã=ru aáëíêáäìíáçå=çñ=ëìêéäìë NON cçêã=rv táíüjéêçñáíë=é~óçìíë=çå=ã~íìêáíó=eåçêã~ä=êéíáêéãéåíf NOQ cçêã=sm içåöjíéêã=áåëìê~ååé=å~éáí~ä=êéèìáêéãéåí NOS pìééäéãéåí~êó=åçíéë=íç=íüé=êéíìêå NOT
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OSMPOMNOWNQWOMWQT Form 1 Statement of solvency - general insurance business Name of insurer Global business Adjusted solo solvency calculation Company GL/ registration UK/ day month year Units number CM R1 166055 GL 31 12 2011 000 As at end of this financial year As at end of the previous year 1 2 Capital resources Capital resources arising outside the long-term insurance fund 11 2998653 3071042 Capital resources allocated towards long-term insurance business arising outside the long-term insurance fund Capital resources available to cover general insurance business capital resources requirement (11-12) 12 2945653 3018042 13 53000 53000 Guarantee fund Guarantee fund requirement 21 50518 50516 Excess (deficiency) of available capital resources to cover guarantee fund requirement 22 2482 2484 Minimum capital requirement (MCR) General insurance capital requirement 31 630 630 Base capital resources requirement 33 3056 3040 Individual minimum capital requirement 34 3056 3040 Capital requirements of regulated related undertakings 35 49499 49503 Minimum capital requirement (34+35) 36 52555 52543 Excess (deficiency) of available capital resources to cover 50% of MCR 37 26723 26728 Excess (deficiency) of available capital resources to cover 75% of MCR 38 13584 13593 Capital resources requirement (CRR) Capital resources requirement 41 52555 52543 Excess (deficiency) of available capital resources to cover general insurance business CRR (13-41) 42 445 457 Contingent liabilities Quantifiable contingent liabilities in respect of other than long-term insurance business as shown in a supplementary note to Form 15 51 =N
OSMPOMNOWNQWOMWQT Form 1 Covering Sheet to Form 1 Name of insurer Global business T J Breedon Director N D Wilson Director M J Gregory Director Date 28 March 2012 =O
OSMPOMNOWNQWOMWQT Form 2 Statement of solvency - long-term insurance business Name of insurer Global business Adjusted solo solvency calculation Company GL/ registration UK/ day month year Units number CM R2 166055 GL 31 12 2011 000 As at end of this financial year As at end of the previous year 1 2 Capital resources Capital resources arising within the long-term insurance fund 11 2738666 2858937 Capital resources allocated towards long-term insurance business arising outside the long-term insurance fund Capital resources available to cover long-term insurance business capital resources requirement (11+12) 12 2945653 3018042 13 5684319 5876979 Guarantee fund Guarantee fund requirement 21 985136 960950 Excess (deficiency) of available capital resources to cover guarantee fund requirement 22 4699183 4916029 Minimum capital requirement (MCR) Long-term insurance capital requirement 31 2371901 2280724 Resilience capital requirement 32 Base capital resources requirement 33 3056 3040 Individual minimum capital requirement 34 2371901 2280724 Capital requirements of regulated related undertakings 35 196271 202995 Minimum capital requirement (34+35) 36 2568172 2483719 Excess (deficiency) of available capital resources to cover 50% of MCR 37 4400233 4635120 Excess (deficiency) of available capital resources to cover 75% of MCR 38 3758190 4014190 Enhanced capital requirement With-profits insurance capital component 39 381780 247485 Enhanced capital requirement 40 2949952 2731204 Capital resources requirement (CRR) Capital resources requirement (greater of 36 and 40) 41 2949952 2731204 Excess (deficiency) of available capital resources to cover long-term insurance business CRR (13-41) 42 2734367 3145775 Contingent liabilities Quantifiable contingent liabilities in respect of long-term insurance business as shown in a supplementary note to Form 14 51 =P
OSMPOMNOWNQWOMWQT Components of capital resources Form 3 (Sheet 1) Name of insurer Global business Company GL/ registration UK/ day month year Units number CM R3 166055 GL 31 12 2011 000 Core tier one capital General Long-term Total as at Total as at insurance insurance the end of the end of business business this financial the previous year year 1 2 3 4 Permanent share capital 11 201430 201430 201430 Profit and loss account and other reserves 12 53000 2669981 2722981 3215772 Share premium account 13 1048914 1048914 1048914 Positive valuation differences 14 951933 951933 Fund for future appropriations Core tier one capital in related undertakings 15 1091434 1091434 1445654 16 216501 216501 591500 Core tier one capital (sum of 11 to 16) 19 53000 6180193 6233193 6503270 Tier one waivers Unpaid share capital / unpaid initial funds and calls for supplementary contributions Implicit Items 22 Tier one waivers in related undertakings 23 21 Total tier one waivers as restricted (21+22+23) 24 Other tier one capital Perpetual non-cumulative preference shares as restricted Perpetual non-cumulative preference shares in related undertakings Innovative tier one capital as restricted Innovative tier one capital in related undertakings 25 26 27 28 Total tier one capital before deductions (19+24+25+26+27+28) Investments in own shares Intangible assets Amounts deducted from technical provisions for discounting Other negative valuation differences Deductions in related undertakings Deductions from tier one (32 to 36) Total tier one capital after deductions (31-37) 31 53000 6180193 6233193 6503270 32 33 193885 193885 34 35 31103 36 428 428 1391 37 194313 194313 32494 39 53000 5985880 6038880 6470776 =Q
OSMPOMNOWNQWOMWQT Components of capital resources Form 3 (Sheet 2) Name of insurer Global business Company GL/ registration UK/ day month year Units number CM R3 166055 GL 31 12 2011 000 Tier two capital Implicit items, (tier two waivers and amounts excluded from line 22) Perpetual non-cumulative preference shares excluded from line 25 Innovative tier one capital excluded from line 27 Tier two waivers, innovative tier one capital and perpetual non-cumulative preference shares treated as tier two capital (41 to 43) Perpetual cumulative preference shares Perpetual subordinated debt and securities 41 42 43 44 45 46 General Long-term Total as at Total as at insurance insurance the end of the end of business business this financial the previous year year 1 2 3 4 Upper tier two capital in related undertakings 47 Upper tier two capital (44 to 47) 49 Fixed term preference shares 51 Other tier two instruments 52 Lower tier two capital in related undertakings 53 Lower tier two capital (51+52+53) 59 Total tier two capital before restrictions (49+59) 61 Excess tier two capital 62 Further excess lower tier two capital Total tier two capital after restrictions, before deductions (61-62-63) 63 69 =R
OSMPOMNOWNQWOMWQT Components of capital resources Form 3 (Sheet 3) Name of insurer Global business Company GL/ registration UK/ day month year Units number CM R3 166055 GL 31 12 2011 000 Total capital resources Positive adjustments for regulated non-insurance related undertakings Total capital resources before deductions (39+69+71) Inadmissible assets other than intangibles and own shares Assets in excess of market risk and counterparty limits Deductions for related ancillary services undertakings Deductions for regulated non-insurance related undertakings Deductions of ineligible surplus capital Total capital resources after deductions (72-73-74-75-76-77) Available capital resources for GENPRU/INSPRU tests Available capital resources for guarantee fund requirement Available capital resources for 50% MCR requirement Available capital resources for 75% MCR requirement 71 General Long-term Total as at Total as at insurance insurance the end of the end of business business this financial the previous year year 1 2 3 4 72 53000 5985880 6038880 6470776 73 301561 301561 540797 74 75 76 77 79 53000 5684319 5737319 5929979 81 53000 5684319 5737319 5929979 82 53000 5684319 5737319 5929979 83 53000 5684319 5737319 5929979 Financial engineering adjustments Implicit items Financial reinsurance - ceded Financial reinsurance - accepted Outstanding contingent loans Any other charges on future profits Sum of financial engineering adjustments (91+92-93+94+95) 91 92 93 94 95 96 =S
OSMPOMNOWNQWOMWQT Calculation of general insurance capital requirement - premiums amount and brought forward amount Name of insurer Global business General insurance business Gross premiums written Premiums taxes and levies (included in line 11) Premiums written net of taxes and levies (11-12) Premiums for classes 11, 12 or 13 (included in line 13) Premiums for "actuarial health insurance" (included in line 13) Sub-total A (13 + 1/2 14-2/3 15) Gross premiums earned Premium taxes and levies (included in line 21) Premiums earned net of taxes and levies (21-22) Premiums for classes 11, 12 or 13 (included in line 23) Premiums for "actuarial health insurance" (included in line 23) Sub-total H (23 + 1/2 24-2/3 25) Sub-total I (higher of sub-total A and sub-total H) Adjusted sub-total I if financial year is not a 12 month period to produce an annual figure Division of gross adjusted premiums amount sub-total I (or adjusted sub-total I if appropriate) Sub-total J (32-33) Claims paid in period of 3 financial years Claims outstanding carried forward at the end of the 3 year period Claims outstanding brought forward at the beginning of the 3 year period Sub-total C (41+42+43-44-45) Company GL/ registration UK/ day month year Units number CM R11 166055 GL 31 12 2011 000 x 0.18 Excess (if any) over 57.5M EURO x 0.02 For insurance business accounted for on an underwriting year basis For insurance business accounted for on an accident year basis For insurance business accounted for on an underwriting year basis For insurance business accounted for on an accident year basis Amounts recoverable from reinsurers in respect of claims included in Sub-total C Sub-total D (46-47) Reinsurance Ratio (Sub-total D /sub-total C or, if more, 0.50 or, if less, 1.00) Premiums amount (Sub-total J x reinsurance ratio) Provision for claims outstanding (before discounting and net of reinsurance Provision for claims outstanding (before discounting and gross of reinsurance) if both 51.1 and 51.2 are zero, otherwise zero Brought forward amount (See instruction 4) Greater of lines 50 and 53 Form 11 This financial year Previous year 1 2 11 6020 3940 12 13 6020 3940 14 15 16 6020 3940 21 5302 3884 22 23 5302 3884 24 25 26 5302 3884 30 6020 3940 31 32 1084 709 33 34 1084 709 41 15 112 42 71 108 43 618 634 44 299 257 45 2046 1820 46 (1641) (1223) 47 (930) (634) 48 (711) (589) 49 0.50 0.50 50 542 355 51 689 675 52 53 630 630 54 630 630 =T
OSMPOMNOWNQWOMWQT Calculation of general insurance capital requirement - premiums amount and brought forward amount Name of insurer Global business Long term insurance business Gross premiums written Premiums taxes and levies (included in line 11) Premiums written net of taxes and levies (11-12) Premiums for classes 11, 12 or 13 (included in line 13) Premiums for "actuarial health insurance" (included in line 13) Sub-total A (13 + 1/2 14-2/3 15) Gross premiums earned Premium taxes and levies (included in line 21) Premiums earned net of taxes and levies (21-22) Premiums for classes 11, 12 or 13 (included in line 23) Premiums for "actuarial health insurance" (included in line 23) Sub-total H (23 + 1/2 24-2/3 25) Sub-total I (higher of sub-total A and sub-total H) Adjusted sub-total I if financial year is not a 12 month period to produce an annual figure Division of gross adjusted premiums amount sub-total I (or adjusted sub-total I if appropriate) Sub-total J (32-33) Claims paid in period of 3 financial years Claims outstanding carried forward at the end of the 3 year period Claims outstanding brought forward at the beginning of the 3 year period Sub-total C (41+42+43-44-45) Company GL/ registration UK/ day month year Units number CM R11 166055 GL 31 12 2011 000 x 0.18 Excess (if any) over 57.5M EURO x 0.02 For insurance business accounted for on an underwriting year basis For insurance business accounted for on an accident year basis For insurance business accounted for on an underwriting year basis For insurance business accounted for on an accident year basis Amounts recoverable from reinsurers in respect of claims included in Sub-total C Sub-total D (46-47) Reinsurance Ratio (Sub-total D /sub-total C or, if more, 0.50 or, if less, 1.00) Premiums amount (Sub-total J x reinsurance ratio) Provision for claims outstanding (before discounting and net of reinsurance Provision for claims outstanding (before discounting and gross of reinsurance) if both 51.1 and 51.2 are zero, otherwise zero Brought forward amount (See instruction 4) Greater of lines 50 and 53 Form 11 This financial year Previous year 1 2 11 173535 210504 12 13 173535 210504 14 15 65677 65044 16 129751 167141 21 173535 210504 22 23 173535 210504 24 25 65677 65044 26 129751 167141 30 129751 167141 31 32 23355 30085 33 1591 2344 34 21764 27742 41 210558 169921 42 43 421197 371295 44 45 337925 305473 46 293830 235743 47 82271 57790 48 211559 177952 49 0.72 0.75 50 15670 20941 51 352732 330150 52 53 20941 9946 54 20941 20941 =U
OSMPOMNOWNQWOMWQT Form 12 Calculation of general insurance capital requirement - claims amount and result Name of insurer Global business General insurance business Company GL/ registration UK/ day month year Units number CM R12 166055 GL 31 12 2011 000 Reference period (No. of months) See INSPRU 1.1.63R Claims paid in reference period This financial year Previous year 1 2 11 36 36 21 15 112 Claims outstanding carried forward at the end of the reference period Claims outstanding brought forward at the beginning of the reference period For insurance business accounted for on an underwriting year basis For insurance business accounted for on an accident year basis For insurance business accounted for on an underwriting year basis For insurance business accounted for on an accident year basis 22 71 108 23 618 634 24 299 257 25 2046 1820 Claims incurred in reference period (21+22+23-24-25) Claims incurred for classes 11, 12 or 13 (included in 26) Claims incurred for "actuarial health insurance" (included in 26) Sub-total E (26 +1/2 27-2/3 28) Sub-total F - Conversion of sub-total E to annual figure (multiply by 12 and divide by number of months in the reference period) 26 (1641) (1223) 27 28 29 (1641) (1223) 31 (547) (408) Division of sub-total F (gross adjusted claims amount) Sub-total G (32-33) x 0.26 Excess (if any) over 40.3M EURO x 0.03 32 (142) (106) 33 39 (142) (106) Claims amount Sub-total G x reinsurance ratio (11.49) Higher of premiums amount and brought forward amount (11.54) General insurance capital requirement (higher of lines 41 and 42) 41 (71) (53) 42 630 630 43 630 630 =V
OSMPOMNOWNQWOMWQT Form 12 Calculation of general insurance capital requirement - claims amount and result Name of insurer Global business Long term insurance business Company GL/ registration UK/ day month year Units number CM R12 166055 GL 31 12 2011 000 Reference period (No. of months) See INSPRU 1.1.63R Claims paid in reference period This financial year Previous year 1 2 11 36 36 21 210558 169921 Claims outstanding carried forward at the end of the reference period Claims outstanding brought forward at the beginning of the reference period For insurance business accounted for on an underwriting year basis For insurance business accounted for on an accident year basis For insurance business accounted for on an underwriting year basis For insurance business accounted for on an accident year basis 22 23 421197 371295 24 25 337925 305473 Claims incurred in reference period (21+22+23-24-25) Claims incurred for classes 11, 12 or 13 (included in 26) Claims incurred for "actuarial health insurance" (included in 26) Sub-total E (26 +1/2 27-2/3 28) Sub-total F - Conversion of sub-total E to annual figure (multiply by 12 and divide by number of months in the reference period) 26 293830 235743 27 28 226114 208806 29 143087 96538 31 47696 32179 Division of sub-total F (gross adjusted claims amount) Sub-total G (32-33) x 0.26 Excess (if any) over 40.3M EURO x 0.03 32 12401 8367 33 375 39 12026 8367 Claims amount Sub-total G x reinsurance ratio (11.49) Higher of premiums amount and brought forward amount (11.54) General insurance capital requirement (higher of lines 41 and 42) 41 8658 6316 42 20941 20941 43 20941 20941 =NM
OSMPOMNOWNQWOMWQT Analysis of admissible assets Form 13 (Sheet 1) Name of insurer Global business Category of assets Total other than long term insurance business assets Company GL/ Category registration UK/ day month year Units of number CM assets R13 166055 GL 31 12 2011 000 1 As at end of this financial year As at end of the previous year Land and buildings 11 Investments in group undertakings and participating interests UK insurance dependants Other insurance dependants Non-insurance dependants Other group undertakings Participating interests Other financial investments 1 2 21 132902 101852 22 23 146117 233556 24 25 2330636 2431357 Equity shares 41 504485 479142 Other shares and other variable yield participations 42 Holdings in collective investment schemes 43 928386 477884 Rights under derivative contracts 44 2167 117 Fixed interest securities Variable interest securities Shares Debts and loans Shares Debts and loans Shares Debts and loans Shares Debts and loans Shares Debts and loans Approved Other Approved Other Participation in investment pools 49 Loans secured by mortgages 50 Loans to public or local authorities and nationalised industries or undertakings Loans secured by policies of insurance issued by the company Other loans 53 Bank and approved credit & financial institution deposits Other financial investments 56 Deposits with ceding undertakings 57 Assets held to match linked liabilities One month or less withdrawal More than one month withdrawal Index linked Property linked 26 27 28 29 30 45 133265 127529 46 94296 99064 47 85589 48 51 52 54 55 770 770 58 59 =NN
OSMPOMNOWNQWOMWQT Analysis of admissible assets Form 13 (Sheet 2) Name of insurer Global business Category of assets Total other than long term insurance business assets Company GL/ Category registration UK/ day month year Units of number CM assets R13 166055 GL 31 12 2011 000 1 As at end of this financial year As at end of the previous year Reinsurers' share of technical provisions 1 2 Provision for unearned premiums Claims outstanding Provision for unexpired risks Other Debtors and salvage Direct insurance business Salvage and subrogation recoveries Reinsurance Dependants Other Other assets Policyholders Intermediaries Accepted Ceded due in 12 months or less due in more than 12 months due in 12 months or less due in more than 12 months 60 61 67 62 63 71 72 73 74 75 2766 2011 76 77 78 414774 300157 79 Tangible assets Deposits not subject to time restriction on withdrawal with approved institutions Cash in hand Other assets (particulars to be specified by way of supplementary note) Accrued interest and rent Deferred acquisition costs (general business only) Other prepayments and accrued income 80 8508 11191 81 31502 9701 82 83 84 4834 4609 85 86 14095 15627 Deductions from the aggregate value of assets 87 Grand total of admissible assets after deduction of admissible assets in excess of market risk and counterparty limits (11 to 86 less 87) 89 4835092 4294634 =NO
OSMPOMNOWNQWOMWQT Analysis of admissible assets Form 13 (Sheet 3) Name of insurer Global business Category of assets Total other than long term insurance business assets Company GL/ Category registration UK/ day month year Units of number CM assets R13 166055 GL 31 12 2011 000 1 As at end of this financial year As at end of the previous year Reconciliation to asset values determined in accordance with the insurance accounts rules or international accounting standards as applicable to the firm for the purpose of its external financial reporting Total admissible assets after deduction of admissible assets in excess of market risk and counterparty limits (as per line 89 above) Admissible assets in excess of market and counterparty limits Inadmissible assets directly held Capital resources requirement deduction of regulated related undertakings Ineligible surplus capital and restricted assets in regulated related insurance undertakings Inadmissible assets of regulated related undertakings Book value of related ancillary services undertakings Other differences in the valuation of assets (other than for assets not valued above) Deferred acquisition costs excluded from line 89 Reinsurers' share of technical provisions excluded from line 89 Other asset adjustments (may be negative) Total assets determined in accordance with the insurance accounts rules or international accounting standards as applicable to the firm for the purpose of its external financial reporting (91 to 101) 1 2 91 4835092 4294634 92 93 119516 118385 94 245770 252498 95 96 429 1565 97 98 (587345) (76686) 99 100 101 (856495) (1497430) 102 3756967 3092966 Amounts included in line 89 attributable to debts due from related insurers, other than those under contracts of insurance or reinsurance 103 470269 352080 =NP
OSMPOMNOWNQWOMWQT Analysis of admissible assets Form 13 (Sheet 1) Name of insurer Global business Category of assets Total long term insurance business assets Company GL/ Category registration UK/ day month year Units of number CM assets R13 166055 GL 31 12 2011 000 10 As at end of this financial year As at end of the previous year 1 2 Land and buildings 11 132254 134693 Investments in group undertakings and participating interests UK insurance dependants Other insurance dependants Non-insurance dependants Other group undertakings Participating interests Other financial investments Shares Debts and loans Shares Debts and loans Shares Debts and loans Shares Debts and loans Shares Debts and loans 21 22 23 24 25 997240 992970 26 27 28 29 30 Equity shares 41 3818182 4537378 Other shares and other variable yield participations 42 Holdings in collective investment schemes 43 1149609 1143365 Rights under derivative contracts 44 166787 90947 Fixed interest securities Variable interest securities Approved Other Approved Other Participation in investment pools 49 Loans secured by mortgages 50 Loans to public or local authorities and nationalised industries or undertakings Loans secured by policies of insurance issued by the company 45 4099907 4071061 46 6147510 5695071 47 20736 11723 48 63382 89139 51 52 245 297 Other loans 53 5154 5210 Bank and approved credit & financial institution deposits Other financial investments 56 Deposits with ceding undertakings 57 Assets held to match linked liabilities One month or less withdrawal More than one month withdrawal Index linked Property linked 54 489217 201475 55 176040 686054 58 141514 127537 59 24244229 25695585 =NQ
OSMPOMNOWNQWOMWQT Analysis of admissible assets Form 13 (Sheet 2) Name of insurer Global business Category of assets Total long term insurance business assets Company GL/ Category registration UK/ day month year Units of number CM assets R13 166055 GL 31 12 2011 000 10 As at end of this financial year As at end of the previous year Reinsurers' share of technical provisions 1 2 Provision for unearned premiums Claims outstanding Provision for unexpired risks Other 60 61 62 63 Debtors and salvage Direct insurance business Salvage and subrogation recoveries Reinsurance Dependants Other Other assets Policyholders Intermediaries Accepted Ceded due in 12 months or less due in more than 12 months due in 12 months or less due in more than 12 months 71 43163 33537 72 13 24 73 74 134663 105087 75 7545 11824 76 77 78 447692 623169 79 6097 Tangible assets Deposits not subject to time restriction on withdrawal with approved institutions Cash in hand Other assets (particulars to be specified by way of supplementary note) Accrued interest and rent Deferred acquisition costs (general business only) Other prepayments and accrued income 80 27672 17211 81 86302 84115 82 83 79562 273541 84 209803 222058 85 86 48 11 Deductions from the aggregate value of assets 87 Grand total of admissible assets after deduction of admissible assets in excess of market risk and counterparty limits (11 to 86 less 87) 89 42694566 44853082 =NR
OSMPOMNOWNQWOMWQT Analysis of admissible assets Form 13 (Sheet 3) Name of insurer Global business Category of assets Total long term insurance business assets Company GL/ Category registration UK/ day month year Units of number CM assets R13 166055 GL 31 12 2011 000 10 As at end of this financial year As at end of the previous year Reconciliation to asset values determined in accordance with the insurance accounts rules or international accounting standards as applicable to the firm for the purpose of its external financial reporting Total admissible assets after deduction of admissible assets in excess of market risk and counterparty limits (as per line 89 above) Admissible assets in excess of market and counterparty limits Inadmissible assets directly held Capital resources requirement deduction of regulated related undertakings Ineligible surplus capital and restricted assets in regulated related insurance undertakings Inadmissible assets of regulated related undertakings Book value of related ancillary services undertakings Other differences in the valuation of assets (other than for assets not valued above) Deferred acquisition costs excluded from line 89 Reinsurers' share of technical provisions excluded from line 89 Other asset adjustments (may be negative) Total assets determined in accordance with the insurance accounts rules or international accounting standards as applicable to the firm for the purpose of its external financial reporting (91 to 101) 1 2 91 42694566 44853082 92 93 185948 237359 94 95 96 97 98 1412 339119 99 749493 788189 100 29896807 26290093 101 84203 581015 102 73612429 73088857 Amounts included in line 89 attributable to debts due from related insurers, other than those under contracts of insurance or reinsurance 103 104679 104456 =NS
OSMPOMNOWNQWOMWQT Analysis of admissible assets Form 13 (Sheet 1) Name of insurer Global business Category of assets With Profits Part of Fund Company GL/ Category registration UK/ day month year Units of number CM assets R13 166055 GL 31 12 2011 000 11 As at end of this financial year As at end of the previous year 1 2 Land and buildings 11 121953 124202 Investments in group undertakings and participating interests UK insurance dependants Other insurance dependants Non-insurance dependants Other group undertakings Participating interests Other financial investments Shares Debts and loans Shares Debts and loans Shares Debts and loans Shares Debts and loans Shares Debts and loans 21 22 23 24 25 935070 931057 26 27 28 29 30 Equity shares 41 3800610 4518869 Other shares and other variable yield participations 42 Holdings in collective investment schemes 43 1100182 1128774 Rights under derivative contracts 44 164817 83555 Fixed interest securities Variable interest securities Approved Other Approved Other Participation in investment pools 49 Loans secured by mortgages 50 Loans to public or local authorities and nationalised industries or undertakings Loans secured by policies of insurance issued by the company 45 4058665 4024950 46 5676949 5571545 47 20736 11723 48 50026 89139 51 52 100 152 Other loans 53 5154 5210 Bank and approved credit & financial institution deposits Other financial investments 56 Deposits with ceding undertakings 57 Assets held to match linked liabilities One month or less withdrawal More than one month withdrawal Index linked Property linked 54 460663 190035 55 161385 596771 58 41129 38215 59 8299958 9018171 =NT
OSMPOMNOWNQWOMWQT Analysis of admissible assets Form 13 (Sheet 2) Name of insurer Global business Category of assets With Profits Part of Fund Company GL/ Category registration UK/ day month year Units of number CM assets R13 166055 GL 31 12 2011 000 11 As at end of this financial year As at end of the previous year Reinsurers' share of technical provisions 1 2 Provision for unearned premiums Claims outstanding Provision for unexpired risks Other 60 61 62 63 Debtors and salvage Direct insurance business Salvage and subrogation recoveries Reinsurance Dependants Other Other assets Policyholders Intermediaries Accepted Ceded due in 12 months or less due in more than 12 months due in 12 months or less due in more than 12 months 71 2696 1753 72 73 74 63 75 3 76 77 78 518443 531274 79 5622 Tangible assets Deposits not subject to time restriction on withdrawal with approved institutions Cash in hand Other assets (particulars to be specified by way of supplementary note) Accrued interest and rent Deferred acquisition costs (general business only) Other prepayments and accrued income 80 81 51853 57623 82 83 84 204451 219233 85 86 46 10 Deductions from the aggregate value of assets 87 Grand total of admissible assets after deduction of admissible assets in excess of market risk and counterparty limits (11 to 86 less 87) 89 25680571 27142264 =NU
OSMPOMNOWNQWOMWQT Analysis of admissible assets Form 13 (Sheet 3) Name of insurer Global business Category of assets With Profits Part of Fund Company GL/ Category registration UK/ day month year Units of number CM assets R13 166055 GL 31 12 2011 000 11 As at end of this financial year As at end of the previous year Reconciliation to asset values determined in accordance with the insurance accounts rules or international accounting standards as applicable to the firm for the purpose of its external financial reporting Total admissible assets after deduction of admissible assets in excess of market risk and counterparty limits (as per line 89 above) Admissible assets in excess of market and counterparty limits Inadmissible assets directly held Capital resources requirement deduction of regulated related undertakings Ineligible surplus capital and restricted assets in regulated related insurance undertakings Inadmissible assets of regulated related undertakings Book value of related ancillary services undertakings Other differences in the valuation of assets (other than for assets not valued above) Deferred acquisition costs excluded from line 89 Reinsurers' share of technical provisions excluded from line 89 Other asset adjustments (may be negative) Total assets determined in accordance with the insurance accounts rules or international accounting standards as applicable to the firm for the purpose of its external financial reporting (91 to 101) 1 2 91 25680571 27142264 92 93 47463 54931 94 95 96 97 98 336610 99 122206 139403 100 247942 229332 101 (469305) (461655) 102 25628877 27440885 Amounts included in line 89 attributable to debts due from related insurers, other than those under contracts of insurance or reinsurance 103 =NV
OSMPOMNOWNQWOMWQT Analysis of admissible assets Form 13 (Sheet 1) Name of insurer Global business Category of assets Non Profit & balancing items Company GL/ Category registration UK/ day month year Units of number CM assets R13 166055 GL 31 12 2011 000 12 As at end of this financial year As at end of the previous year 1 2 Land and buildings 11 10301 10491 Investments in group undertakings and participating interests UK insurance dependants Other insurance dependants Non-insurance dependants Other group undertakings Participating interests Other financial investments Shares Debts and loans Shares Debts and loans Shares Debts and loans Shares Debts and loans Shares Debts and loans 21 22 23 24 25 62170 61913 26 27 28 29 30 Equity shares 41 17572 18509 Other shares and other variable yield participations 42 Holdings in collective investment schemes 43 49427 14591 Rights under derivative contracts 44 1970 7392 Fixed interest securities Variable interest securities Approved Other Approved Other Participation in investment pools 49 Loans secured by mortgages 50 Loans to public or local authorities and nationalised industries or undertakings Loans secured by policies of insurance issued by the company Other loans 53 Bank and approved credit & financial institution deposits Other financial investments 56 Deposits with ceding undertakings 57 Assets held to match linked liabilities One month or less withdrawal More than one month withdrawal Index linked Property linked 45 41242 46111 46 470561 123526 47 48 13356 51 52 145 145 54 28554 11440 55 14655 89283 58 100385 89322 59 15944271 16677414 =OM
OSMPOMNOWNQWOMWQT Analysis of admissible assets Form 13 (Sheet 2) Name of insurer Global business Category of assets Non Profit & balancing items Company GL/ Category registration UK/ day month year Units of number CM assets R13 166055 GL 31 12 2011 000 12 As at end of this financial year As at end of the previous year Reinsurers' share of technical provisions 1 2 Provision for unearned premiums Claims outstanding Provision for unexpired risks Other 60 61 62 63 Debtors and salvage Direct insurance business Salvage and subrogation recoveries Reinsurance Dependants Other Other assets Policyholders Intermediaries Accepted Ceded due in 12 months or less due in more than 12 months due in 12 months or less due in more than 12 months 71 40467 31784 72 13 24 73 74 134600 105087 75 7545 11821 76 77 78 (70751) 91895 79 475 Tangible assets Deposits not subject to time restriction on withdrawal with approved institutions Cash in hand Other assets (particulars to be specified by way of supplementary note) Accrued interest and rent Deferred acquisition costs (general business only) Other prepayments and accrued income 80 27672 17211 81 34449 26492 82 83 79562 273541 84 5352 2825 85 86 2 1 Deductions from the aggregate value of assets 87 Grand total of admissible assets after deduction of admissible assets in excess of market risk and counterparty limits (11 to 86 less 87) 89 17013995 17710818 =ON
OSMPOMNOWNQWOMWQT Analysis of admissible assets Form 13 (Sheet 3) Name of insurer Global business Category of assets Non Profit & balancing items Company GL/ Category registration UK/ day month year Units of number CM assets R13 166055 GL 31 12 2011 000 12 As at end of this financial year As at end of the previous year Reconciliation to asset values determined in accordance with the insurance accounts rules or international accounting standards as applicable to the firm for the purpose of its external financial reporting Total admissible assets after deduction of admissible assets in excess of market risk and counterparty limits (as per line 89 above) Admissible assets in excess of market and counterparty limits Inadmissible assets directly held Capital resources requirement deduction of regulated related undertakings Ineligible surplus capital and restricted assets in regulated related insurance undertakings Inadmissible assets of regulated related undertakings Book value of related ancillary services undertakings Other differences in the valuation of assets (other than for assets not valued above) Deferred acquisition costs excluded from line 89 Reinsurers' share of technical provisions excluded from line 89 Other asset adjustments (may be negative) Total assets determined in accordance with the insurance accounts rules or international accounting standards as applicable to the firm for the purpose of its external financial reporting (91 to 101) 1 2 91 17013995 17710818 92 93 138485 182428 94 95 96 97 98 1412 2509 99 627287 648786 100 29648865 26060761 101 553508 1042670 102 47983552 45647972 Amounts included in line 89 attributable to debts due from related insurers, other than those under contracts of insurance or reinsurance 103 104679 104456 =OO
OSMPOMNOWNQWOMWQT Long term insurance business liabilities and margins Form 14 Name of insurer Global business Total business/sub fund Summary Units 000 As at end of As at end of this financial the previous year year 1 2 Mathematical reserves, after distribution of surplus 11 38519083 40659462 Cash bonuses which had not been paid to policyholders prior to end of the financial year Balance of surplus/(valuation deficit) 13 942332 848316 Long term insurance business fund carried forward (11 to 13) 14 39461415 41507778 Claims outstanding Provisions 12 Gross 15 329076 339988 Reinsurers' share 16 116197 115064 Net (15-16) 17 212879 224924 Taxation 21 Other risks and charges 22 159680 174129 Deposits received from reinsurers 23 Creditors Debenture loans Direct insurance business 31 38202 31499 Reinsurance accepted 32 1543 1288 Reinsurance ceded 33 15048 20196 Secured 34 Unsecured 35 Amounts owed to credit institutions 36 62 329 Creditors Taxation 37 191640 552709 Other 38 816953 328453 Accruals and deferred income 39 810 1156 Provision for "reasonably foreseeable adverse variations" Total other insurance and non-insurance liabilities (17 to 41) 49 1436817 1334683 Excess of the value of net admissible assets 51 1796334 2010621 Total liabilities and margins 59 42694566 44853082 41 Amounts included in line 59 attributable to liabilities to related companies, other than those under contracts of insurance or reinsurance Amounts included in line 59 attributable to liabilities in respect of property linked benefits 61 9974 12083 62 24201268 25645603 Total liabilities (11+12+49) Increase to liabilities - DAC related 72 71 39955900 41994145 Reinsurers' share of technical provisions 73 29896807 26290093 Other adjustments to liabilities (may be negative) 74 1228155 2007154 Capital and reserves and fund for future appropriations 75 2531567 2797465 Total liabilities under insurance accounts rules or international accounting standards as applicable to the firm for the purpose of its external financial reporting (71 to 75) 76 73612429 73088857 =OP
OSMPOMNOWNQWOMWQT Long term insurance business liabilities and margins Form 14 Name of insurer Global business Total business/sub fund With Profits Part of Fund Units 000 As at end of As at end of this financial the previous year year 1 2 Mathematical reserves, after distribution of surplus 11 22756131 24118649 Cash bonuses which had not been paid to policyholders prior to end of the financial year Balance of surplus/(valuation deficit) 13 3478 3478 Long term insurance business fund carried forward (11 to 13) 14 22759609 24122127 Claims outstanding Provisions 12 Gross 15 99929 103219 Reinsurers' share 16 639 823 Net (15-16) 17 99290 102396 Taxation 21 7104 72766 Other risks and charges 22 79700 86800 Deposits received from reinsurers 23 Creditors Debenture loans Direct insurance business 31 2959 3485 Reinsurance accepted 32 65 Reinsurance ceded 33 Secured 34 Unsecured 35 Amounts owed to credit institutions 36 62 149 Creditors Taxation 37 476910 699614 Other 38 457857 43175 Accruals and deferred income 39 746 1066 Provision for "reasonably foreseeable adverse variations" Total other insurance and non-insurance liabilities (17 to 41) 49 1124628 1009516 Excess of the value of net admissible assets 51 1796334 2010621 Total liabilities and margins 59 25680571 27142264 41 Amounts included in line 59 attributable to liabilities to related companies, other than those under contracts of insurance or reinsurance Amounts included in line 59 attributable to liabilities in respect of property linked benefits 61 733 785 62 8282485 8995291 Total liabilities (11+12+49) Increase to liabilities - DAC related 72 Reinsurers' share of technical provisions 73 Other adjustments to liabilities (may be negative) 74 Capital and reserves and fund for future appropriations 75 Total liabilities under insurance accounts rules or international accounting standards as applicable to the firm for the purpose of its external financial reporting (71 to 75) 71 23880759 25128165 76 =OQ
OSMPOMNOWNQWOMWQT Long term insurance business liabilities and margins Form 14 Name of insurer Global business Total business/sub fund Non Profit & balancing items Units 000 As at end of As at end of this financial the previous year year 1 2 Mathematical reserves, after distribution of surplus 11 15762952 16540813 Cash bonuses which had not been paid to policyholders prior to end of the financial year Balance of surplus/(valuation deficit) 13 938854 844838 Long term insurance business fund carried forward (11 to 13) 14 16701806 17385651 Claims outstanding Provisions 12 Gross 15 229147 236769 Reinsurers' share 16 115558 114241 Net (15-16) 17 113589 122528 Taxation 21 (7104) (72766) Other risks and charges 22 79980 87329 Deposits received from reinsurers 23 Creditors Debenture loans Direct insurance business 31 35243 28014 Reinsurance accepted 32 1543 1223 Reinsurance ceded 33 15048 20196 Secured 34 Unsecured 35 Amounts owed to credit institutions 36 180 Creditors Taxation 37 (285270) (146905) Other 38 359096 285278 Accruals and deferred income 39 64 90 Provision for "reasonably foreseeable adverse variations" Total other insurance and non-insurance liabilities (17 to 41) 49 312189 325167 Excess of the value of net admissible assets 51 Total liabilities and margins 59 17013995 17710818 41 Amounts included in line 59 attributable to liabilities to related companies, other than those under contracts of insurance or reinsurance Amounts included in line 59 attributable to liabilities in respect of property linked benefits 61 9241 11298 62 15918783 16650312 Total liabilities (11+12+49) Increase to liabilities - DAC related 72 Reinsurers' share of technical provisions 73 Other adjustments to liabilities (may be negative) 74 Capital and reserves and fund for future appropriations 75 Total liabilities under insurance accounts rules or international accounting standards as applicable to the firm for the purpose of its external financial reporting (71 to 75) 71 16075141 16865980 76 =OR
OSMPOMNOWNQWOMWQT Form 15 Liabilities (other than long term insurance business) Name of insurer Global business Technical provisions (gross amount) Company GL/ registration UK/ day month year Units number CM R15 166055 GL 31 12 2011 000 As at end of As at end of this financial the previous year year 1 2 Provisions for unearned premiums 11 2628 1910 Claims outstanding 12 689 742 Provision for unexpired risks 13 Equalisation provisions Credit business 14 Other than credit business 15 1939 1277 Other technical provisions 16 Total gross technical provisions (11 to 16) 19 5256 3929 Provisions and creditors Provisions Taxation 21 Other risks and charges 22 423591 423594 Deposits received from reinsurers 31 Creditors Debenture loans Direct insurance business 41 316 317 Reinsurance accepted 42 Reinsurance ceded 43 92 100 Secured 44 Unsecured 45 Amounts owed to credit institutions 46 Creditors Taxation 47 15814 5128 Foreseeable dividend 48 Other 49 1527380 935274 Accruals and deferred income 51 109760 107748 Total (19 to 51) 59 2082209 1476090 Provision for "reasonably foreseeable adverse variations" 61 Cumulative preference share capital 62 Subordinated loan capital 63 Total (59 to 63) 69 2082209 1476090 Amounts included in line 69 attributable to liabilities to related insurers, other than those under contracts of insurance or reinsurance 71 1480863 901531 Amounts deducted from technical provisions for discounting 82 Other adjustments (may be negative) 83 (858434) (1497430) Capital and reserves 84 2533192 3114306 Total liabilities under insurance accounts rules or international accounting standards as applicable to the firm for the purpose of its external financial reporting (69-82+83+84) 85 3756967 3092966 =OS
OSMPOMNOWNQWOMWQT Form 16 Profit and loss account (non-technical account) Name of insurer Global business Company GL/ registration UK/ day month year Units number CM R16 166055 GL 31 12 2011 000 This financial year Previous year Transfer (to)/from the general insurance business technical account Transfer from the long term insurance business revenue account 1 2 From Form 20 11 5405 3946 Equalisation provisions 12 (662) (433) 13 240976 195657 Income 14 95389 151128 Value re-adjustments on Investment income 15 50291 investments Gains on the realisation of investments Investment management charges, including interest 16 10160 17 2560 1857 Value re-adjustments on Investment charges 18 5403 investments Loss on the realisation of investments Allocated investment return transferred to the general insurance business technical account Other income and charges (particulars to be specified by way of supplementary note) Profit or loss on ordinary activities before tax (11+12+13+14+15+16-17-18-19-20+21) 19 49241 20 21 (65233) (31242) 29 218671 377650 Tax on profit or loss on ordinary activities 31 10017 9721 Profit or loss on ordinary activities after tax (29-31) 39 208654 367929 Extraordinary profit or loss (particulars to be specified by way of supplementary note) Tax on extraordinary profit or loss 42 Other taxes not shown under the preceding items 43 Profit or loss for the financial year (39+41-(42+43)) 49 208654 367929 Dividends (paid or foreseeable) 51 500000 300000 Profit or loss retained for the financial year (49-51) 59 (291346) 67929 41 =OT
OSMPOMNOWNQWOMWQT Form 17 Analysis of derivative contracts Name of insurer Global business Category of assets Total other than long term insurance business assets Company GL/ Category registration UK/ day month year Units of number CM assets R17 166055 GL 31 12 2011 000 1 Derivative contracts Value as at the end of this financial year Notional amount as at the end of this financial year Futures and contracts for differences In the money options Out of the money options Fixed-interest securities 11 Assets Liabilities Bought / Long Sold / Short 1 2 3 4 Interest rates 12 10332 99183 Inflation 13 Credit index / basket 14 Credit single name 15 Equity index Equity stock 17 Land 18 16 1781 107127 Currencies 19 362 19 610 11084 Mortality 20 Other 21 31 Equity index calls 32 Equity stock calls 33 Equity index puts 34 Equity stock puts 35 Other 36 24 65 Swaptions 41 Equity index calls 42 Equity stock calls 43 Equity index puts 44 Equity stock puts 45 Other 46 Total (11 to 46) 51 2167 10351 107802 110267 Total (51 + 52) Swaptions Adjustment for variation margin 52 53 2167 10351 THE NOTIONAL AMOUNTS IN COLUMNS 3 AND 4 ARE NOT A MEASURE OF EXPOSURE. Please see instructions 11 and 12 to this Form for the meaning of these figures. =OU
OSMPOMNOWNQWOMWQT Form 17 Analysis of derivative contracts Name of insurer Global business Category of assets Total long term insurance business assets Company GL/ Category registration UK/ day month year Units of number CM assets R17 166055 GL 31 12 2011 000 10 Derivative contracts Value as at the end of this financial year Notional amount as at the end of this financial year Futures and contracts for differences In the money options Out of the money options Fixed-interest securities Assets Liabilities Bought / Long Sold / Short 1 2 3 4 11 1270 308986 Interest rates 12 108067 101692 704300 648124 Inflation 13 Credit index / basket 14 3358 3028 250000 Credit single name 15 Equity index Equity stock 17 Land 18 16 2539 994 160183 49367 Currencies 19 18534 16631 91107 1214570 Mortality 20 Other 21 31 Equity index calls 32 Equity stock calls 33 Equity index puts 34 32554 261279 Equity stock puts 35 1305 86963 Other 36 430 794 Swaptions 41 Equity index calls 42 Equity stock calls 43 Equity index puts 44 Equity stock puts 45 Other 46 Total (11 to 46) 51 166787 123615 1206384 2569289 Total (51 + 52) Swaptions Adjustment for variation margin 52 53 166787 123615 THE NOTIONAL AMOUNTS IN COLUMNS 3 AND 4 ARE NOT A MEASURE OF EXPOSURE. Please see instructions 11 and 12 to this Form for the meaning of these figures. =OV