Gen.acc.8se.pf Regulatory News (GACA)

9 Mar 2005 10:00

General Accident PLC09 March 2005 INFORMATION FOR GENERAL ACCIDENT PREFERENCE SHAREHOLDERS GENERAL ACCIDENT PLC AND SUBSIDIARY COMPANIES Unaudited results for the year ended 31 December 2004 These results are published for the benefit of preference shareholders of General Accident plc. The preference shares have remained listed following the merger of the Company with Commercial Union plc, in June 1998 to form CGU plc (CGU), and the subsequent merger of CGU with Norwich Union plc in May 2000 to form Aviva plc (formerly CGNU plc). Worldwide operating profit is up 25% to £2,344 million. This is a good set of results, delivered by managing our business for value for our customers and shareholders. Our diversified business model brings the complementary qualities of long-term savings boosted by strong cashflow from general insurance. We believe we have a strong platform for long-term savings growth across Europe and this now accounts for over 50% ofour life and pensions new business sales. Total life EEV operating return was £1,611 million. Our general insurancebusiness continues to outperform delivering very strong and resilient earnings through scale benefits and innovation.Total operating profit from general insurance was £1,326 million. Summarised consolidated profit and loss account Unaudited Unaudited Statutory results results to 31 results to 31 December December 2004 2003 £m £mPremium income (after reinsurance) and investment sales 31,108 29,405 Operating profit before tax 1,870 1,463-------------------------------------------------------------------------------------------------------------------- Profit on ordinary activities before tax 1,800 1,704Tax on profit on ordinary activities (430) (414)Minority interests (54) (52)---------------------------------------------------------------------------------------------------------------------Profit attributable to shareholders 1,316 1,238 Preference dividends (21) (21)---------------------------------------------------------------------------------------------------------------------Profit attributable to equity shareholders 1,295 1,217-------------------------------------------------------------------------------------------------------------------- Summarised consolidated balance sheet - on a modified statutory basis Unaudited Unaudited results to 31 results to 31 December December 2004 2003 £m £m Total assets 233,709 204,531-------------------------------------------------------------------------------------------------------------------- Equity shareholders' funds 10,232 8,983Non-equity shareholders' funds and minority interests 877 791 Technical provisions and other liabilities 222,600 194,757--------------------------------------------------------------------------------------------------------------------Total liabilities 233,709 204,531-------------------------------------------------------------------------------------------------------------------- Summarised cash flow statement Unaudited Unaudited results to 31 results to 31 December December 2004 2003 £m £m Net cash inflow from operating activities 2,629 998 Net cash (outflow)/inflow from other activities (346) 1,159 Net purchases of investments (2,469) (2,286)--------------------------------------------------------------------------------------------------------------------Decrease in cash holdings (186) (129)-------------------------------------------------------------------------------------------------------------------- The audited results of Aviva plc for the year ended 31 December 2004 are available on application to the Group CompanySecretary, Aviva plc, St. Helen's, 1 Undershaft, London EC3P 3DQ. A copy can also be found on the Aviva plc websiteat www.aviva.com. Enquiries: Steve Riley, Investor Relations Director, Aviva plc 020 7662 8115 This information is provided by RNS The company news service from the London Stock Exchange