CGU PLC
10 May 2000
CGU plc
STATISTICAL APPENDIX - ISSUED 10 MAY 2000
UNAUDITED GROUP RESULTS FOR 3 MONTHS ENDED 31 MARCH 2000
(USING LIFE ACHIEVED PROFITS)
All results in the statistical appendix are before goodwill amortisation and
exceptional items.
3 months to 31 March
2000 1999 1999
at at at
average average average
2000 roe 2000 roe 1999 roe
Unaudited Unaudited Unaudited
GROUP OPERATING PROFIT £m £m £m
Life and savings
United Kingdom 123 73 73
France 48 29 33
Netherlands 81 38 43
Italy 5 12 13
Poland 26 16 17
Other Europe 1 (3) (4)
United States 2 5 5
Canada 2 2 2
Rest of World 1 (1) (1)
--- --- ---
289 171 181
=== === ===
Health
France 3 4 4
Netherlands 6 2 3
--- --- ---
9 6 7
=== === ===
General insurance
United Kingdom 47 17 17
France (13) (3) (3)
Netherlands 6 7 9
Other Europe 6 - -
United States 79 61 60
Canada 12 11 11
Australia & NZ 17 9 9
Rest of World 8 5 5
Group reinsurance 3 5 5
--- --- ----
165 112 113
=== === ====
Associated undertakings
United Kingdom - 2 2
France 1 1 2
Other Europe - 2 2
Rest of World - - -
--- --- ---
1 5 6
=== === ===
Asset management
United Kingdom 8 7 7
France 4 2 2
Netherlands 11 4 4
Other Europe 1 - -
United States 1 - -
Australia & NZ - - -
--- --- ---
25 13 13
=== === ===
Group operating profit
United Kingdom 178 99 99
France 43 33 38
Netherlands 104 51 59
Other Europe (inc Italy
and Poland 39 27 28
United States 82 66 65
Canada 14 13 13
Australia & NZ 17 9 9
Rest of World 9 4 4
Group reinsurance 3 5 5
--- --- ---
489 307 320
Unallocated expenses (26) (17) (18)
Unallocated interest
charges - external (21) (16) (16)
- intra-group (46) (30) (31)
---- ---- ----
Group operating profit
before tax 396 244 255
==== ==== ====
GROUP GENERAL INSURANCE RESULT
3 months to 31 March
2000 1999 1999
at at at
average average average
2000 roe 2000 roe 1999 roe
£m £m £m
Underwriting result
United Kingdom (64) (78) (78)
France (37) (16) (18)
Netherlands (10) (5) (5)
Other Europe (18) (16) (18)
United States (26) (33) (33)
Canada (19) (18) (17)
Australia & NZ (6) (8) (8)
Rest of World (8) (7) (7)
Group reinsurance (9) (3) (3)
----- ----- -----
(197) (184) (187)
===== ===== =====
Longer term investment return (LTIR)
United Kingdom 111 95 95
France 24 13 15
Netherlands 16 12 14
Other Europe 24 16 18
United States 105 94 93
Canada 31 29 28
Australia & NZ 23 17 17
Rest of World 16 12 12
Group reinsurance 12 8 8
---- ---- ----
362 296 300
==== ==== ====
General insurance result
United Kingdom 47 17 17
France (13) (3) (3)
Netherlands 6 7 9
Other Europe 6 - -
United States 79 61 60
Canada 12 11 11
Australia & NZ 17 9 9
Rest of World 8 5 5
Group reinsurance 3 5 5
--- --- ----
165 112 113
=== === ====
Note: Investment income, which is included in the longer term investment
return,is analysed below.
3 months to 31 March
2000 1999 1999
at at at
average average average
2000 roe 2000 roe 1999 roe
£m £m £m
Investment income
United Kingdom 80 76 76
France 8 6 6
Netherlands 9 7 8
Other Europe 17 12 14
United States 74 74 72
Canada 26 27 26
Australia & NZ 19 15 15
Rest of World 10 10 10
Group reinsurance 9 7 7
---- ---- ----
252 234 234
==== ==== ====
Worldwide Life & Savings New Business - 3 months 2000
New single premiums New annual premiums Investment sales(ii)
Local Local Local
3 months currency 3 months currency 3 months currency
2000 1999 growth 2000 1999 growth 2000 1999 growth
£m £m % £m £m % £m £m %
United Kingdom
Individual
pensions 127 97 31 19 14 39
Group pensions 65 99 (34) 12 10 23
Mortgage - - - 6 8 (22)
Other life 557 409 36 9 4 93
ISAs/PEPs/
Unit Trusts - - - - - - 104 259 (60)
--- --- --- --- --- --- --- --- ---
749 605 24 46 36 28 104 259 (60)
--- --- --- --- --- --- --- --- ---
France
AFER (excluding
unit-linked) 207 168 39 - - -
Unit-linked
& other
savings 223 112 124 4 4 29
Group
protection
business 36 39 3 - - -
--- --- --- --- --- ---
466 319 64 4 4 29
--- --- --- --- --- ---
Netherlands(iii)
Individual
pensions 64 18 289 - - -
Group pensions 23 53 (50) 5 5 13
Universal life 3 4 (4) 3 3 27
Other individual
life 15 13 18 5 10 (55)
Group life 4 4 18 2 1 103
--- --- --- --- --- ---
109 92 32 15 19 (13)
--- --- --- --- --- ---
Italy
Unit-linked 49 249 (78) - 6 (95)
Savings,
protection
& other 10 34 (66) 1 10 (87)
--- --- --- --- --- ---
59 283 (77) 1 16 (90)
--- --- --- --- --- ---
Poland
Life &
savings 3 3 24 12 16 (24)
Pensions - - - 77 - n/a
--- --- --- --- --- ---
3 3 24 89 16 486
Germany
Life &
savings 8 9 (4) 6 4 87
Pensions &
annuities 6 42 (83) 6 3 103
--- --- --- --- --- ---
14 51 (69) 12 7 95
Other Europe
Life &
pensions (iv) 72 29 180 10 3 264
UCITS - - - - - - 68 29 138
--- --- --- -- -- --- --- --- ---
72 29 180 10 3 264 68 29 138
United States
Life
assurance 1 2 (35) 2 3 (43)
Pensions &
annuities 39 30 27 3 3 (4)
--- --- -- -- -- --
40 32 23 5 6 (24)
Other 10 8 11 8 5 69
----- ----- -- --- --- --- --- --- ----
Total 1522 1422 14 190 112 79 172 288 (40)
===== ===== == === === === === === ====
Notes:
(i) Average exchange rates used.
(ii) 2000 figures include ISAs, unit trusts and UCITS (collective
investments sold throughout Europe and Asia).
1999 figures also included PEP sales in the UK (PEPs were replaced by
ISAs in April 1999).
(iii) Figures include £20m in single premiums and £0.4m in annual premiums
from Nuts Ohra.
(iv) Figures include £26m in single premiums and £6m in annual premiums
from Hibernian.
GENERAL INSURANCE ANALYSIS BY TERRITORY
UNITED KINGDOM
General insurance
3 months to 31 March
Premium income Underwriting result Operating ratio
2000 1999 Growth 2000 1999 2000 1999
£m £m % £m £m % %
Personal
Motor 142 130 9 (17) (29) 113 123
Homeowners 160 153 5 2 (7) 99 104
Creditor 25 17 50 4 9 96 123
Other 13 23 (45) - 1 106 95
---- ---- ---- -----
340 323 5 (11) (26) 104 109
Commercial
Motor 86 81 6 (19) (32) 123 141
Property 119 137 (13) (19) 2 116 97
Liability 54 63 (15) (9) (19) 116 129
Other 25 28 (12) 2 3 89 89
---- ---- ----- -----
284 309 (8) (45) (46) 116 114
---- ---- ----- -----
Total 624 632 (1) (56) (72) 109 112
London market 113 78 45 (8) (6) 111 103
---- ---- ----- -----
Total 737 710 4 (64) (78) 109 111
==== ==== ===== =====
Underwriting ratios
3 months to
31 March
2000 1999
% %
Claims 82 82
Commission 16 16
Expenses 11 13
--- ---
Operating 109 111
=== ===
Notes: Certain reclassifications have taken place during 2000.
Global Risks has been reclassified from the Commercial classes to
London Market.
Part of Commercial Other has been reclassified to Commercial Property.
1999 has been restated.
FRANCE
General insurance
3 months to 31 March
Underwriting Operating
Premium income result ratio
2000 1999 Growth 2000 1999 2000 1999
FFrm FFrm % FFrm FFrm % %
Agents/brokers
Property 1020 1007 1 (172) (29) 117 95
Motor 770 701 10 (167) (36) 122 103
Other 447 500 (11) (22) (32) 105 106
---- ---- ----- -----
2237 2208 1 (361) (97) 116 104
Direct 101 86 17 (38) (74) 138 192
---- ---- ----- -----
Total 2338 2294 2 (399) (171) 120 105
==== ==== ===== =====
Underwriting ratios
3 months to
31 March
2000 1999
% %
Claims 91 76
Commission 18 18
Expenses 11 11
--- ---
Operating 120 105
=== ===
NETHERLANDS
General insurance
3 months to 31 March
Underwriting Operating
Premium income result ratio
2000 1999 Growth 2000 1999 2000 1999
Flm Flm % Flm Flm % %
Domestic 64 42 53 (2) 3 102 91
Motor 141 100 41 (9) (20) 105 119
Commercial fire 70 65 7 (10) 1 112 93
Liability 37 37 - (9) (2) 134 101
Inward reinsurance 3 11 (72) (2) - 164 102
Other 57 50 12 (5) 1 106 90
---- ---- --- ---
Total 372 305 22 (37) (17) 108 103
==== ==== === ===
Underwriting ratios
3 months to
31 March
2000 1999
% %
Claims 72 67
Commission 20 23
Expenses 16 13
--- ---
Operating 108 103
=== ===
UNITED STATES
General insurance
Statutory Basis
3 months to 31 March
Underwriting Operating
Premium income result ratio
2000 1999 Growth 2000 1999 2000 1999
$m $m % $m $m % %
Personal
Automobile 326 349 (7) (7) 6 101 96
Homeowners 95 95 - - (8) 104 112
Other 32 28 16 4 5 93 82
---- ---- ---- ----
453 472 (4) (3) 3 101 99
Commercial
Automobile 155 143 9 (10) (11) 104 106
Property 259 249 4 (16) (32) 107 113
Liability 50 51 (2) - (2) 100 98
Workers
compensation 143 126 13 (2) (5) 97 99
Other 28 26 5 10 (2) 79 116
---- ---- ----- -----
635 595 7 (18) (52) 101 107
---- ---- ----- -----
Total 1088 1067 2 (21) (49) 101 104
==== ==== ===== =====
Underwriting ratios
3 months to
31 March
2000 1999
% %
Claims 72 73
Commission 15 17
Expenses 14 14
--- ---
Operating 101 104
=== ===
Note: 1999 Travel has been reclassified from Commercial Other to Personal
Other.
CANADA
General Business
3 months to 31 March
Underwriting Operating
Premium income result ratio
2000 1999 Growth 2000 1999 2000 1999
C$m C$m % C$m C$m % %
Automobile 274 243 13 (33) (14) 111 106
Property 135 122 10 (15) (20) 111 115
Liability 37 32 17 1 (10) 99 128
Other 7 8 (6) 2 2 67 66
---- ---- ---- ----
Total 453 405 12 (45) (42) 109 110
==== ==== ==== ====
Underwriting ratios
3 months to
31 March
2000 1999
% %
Claims 77 76
Commission 18 19
Expenses 14 15
--- ---
Operating 109 110
=== ===
AUSTRALIA & NZ
General insurance
3 months to 31 March
Underwriting Operating
Premium income result ratio
2000 1999 Growth 2000 1999 2000 1999
£m £m % £m £m % %
Australia 110 106 4 (5) (8) 104 109
New Zealand 23 22 2 (1) - 107 101
--- --- ---- ---
133 128 3 (6) (8) 105 107
=== === ==== ===
Underwriting ratios
3 months to
31 March
2000 1999
% %
Claims 76 80
Commission 14 14
Expenses 15 13
--- ---
Operating 105 107
=== ===
Note: All figures are at 3 months to 31 March 2000 average rates of exchange.
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