Consolidated Balance Sheet
AS AT 30 JUNE 2007
| CONSOLIDATED | |||
| Notes | 2007 $m |
2006 $m |
|
|---|---|---|---|
| ASSETS | |||
| Cash and cash equivalents | 1,163 | 718 | |
| Investments | 10,884 | 9,929 | |
| Premium receivable | 2,045 | 1,652 | |
| Inventories | 1 | – | |
| Trade and other receivables | 1,206 | 764 | |
| Receivables from related bodies corporate | 1 | 4 | |
| Current tax assets | 19 | 1 | |
| Defined benefit superannuation asset | 62 | – | |
| Reinsurance and other recoveries receivable on outstanding claims | 1,346 | 908 | |
| Prepayments | 62 | 25 | |
| Deferred levies and charges | 123 | 126 | |
| Deferred outwards reinsurance expense | 224 | 221 | |
| Deferred acquisition costs | 789 | 591 | |
| Deferred tax assets | 276 | 159 | |
| Property, plant and equipment | 297 | 257 | |
| Investment in joint ventures and associates | 75 | 74 | |
| Intangible assets | 815 | 57 | |
| Goodwill | 2,222 | 1,486 | |
| TOTAL ASSETS | 21,610 | 16,972 | |
| LIABILITIES | |||
| Trade and other payables | 1,120 | 743 | |
| Reinsurance premiums payable | 160 | 166 | |
| Payables to related bodies corporate | 1 | – | |
| Restructuring provision | 4 | 10 | |
| Current tax liabilities | 55 | 83 | |
| Unexpired risk liability | – | 11 | |
| Unearned premium liability | 4,213 | 3,503 | |
| Minority interest in unitholders’ funds | 326 | 305 | |
| Lease provision | 22 | 21 | |
| Employee benefits provision | 242 | 207 | |
| Deferred tax liabilities | 56 | 40 | |
| Outstanding claims liability | 8,562 | 6,916 | |
| Interest bearing liabilities | 2,017 | 1,296 | |
| TOTAL LIABILITIES | 16,778 | 13,301 | |
| NET ASSETS | 4,832 | 3,671 | |
| EQUITY | |||
| Share capital | 6(a) | 4,361 | 3,263 |
| Treasury shares held in trust | 6(b) | (69) | (40) |
| Reserves | 6(c) | (4) | (6) |
| Retained earnings | 6(d) | 372 | 274 |
| Parent interest | 6 | 4,660 | 3,491 |
| Minority interest | 6(e) | 172 | 180 |
| TOTAL EQUITY | 6 | 4,832 | 3,671 |
The above consolidated balance sheet should be read in conjunction with the notes to the concise financial statements.