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Consolidated income statement

For the year ended 31 December 2009

   
 
£m
  Notes
Year ended
31 December
2009
Year ended
31 December
2008
Revenue    
Gross earned premiums B3
3,820
5,156
Outward reinsurance  
(369)
(335)
Net earned premiums  
3,451
4,821
Investment return (non-banking)  
11,616
(11,578)
Banking interest and similar income  
3,989
4,059
Banking trading, investment and similar income  
168
162
Fee and commission income, and income from service activities  
2,422
2,313
Other income  
202
270
Total revenues  
21,848
47
Expenses    
Claims and benefits (including change in insurance contract provisions)  
(5,069)
(3,610)
Reinsurance recoveries  
328
262
Net claims and benefits incurred  
(4,741)
(3,348)
Change in investment contract liabilities  
(8,345)
10,051
Losses on loans and advances  
(511)
(319)
Finance costs  
(322)
392
Banking interest payable and similar expenses  
(2,627)
(2,853)
Fee and commission expenses, and other acquisition costs  
(806)
(937)
Other operating and administrative expenses  
(3,139)
(2,834)
Goodwill impairment C1(b)
(266)
(74)
Change in third party interest in consolidated funds  
(470)
779
Amortisation of PVIF and other acquired intangibles C1(b)
(326)
(361)
Total expenses  
(21,553)
496
   
 
Share of associated undertakings' profit/(loss) after tax  
2
(1)
(Loss)/profit on disposal of subsidiaries, associated undertakings and strategic investments C1(c)
(50)
53
Profit before tax  
247
595
Income tax (expense)/credit D1(a)
(365)
88
(Loss)/profit after tax for the financial year  
(118)
683
Attributable to    
Equity holders of the parent  
(340)
441
Non-controlling interests  
Ordinary shares F2(a)
158
188
Preferred securities F2(a)
64
54
(Loss)/profit after tax for the financial year  
(118)
683
       

Earnings per share

      
Basic earnings per ordinary share (pence) C3(a)
(7.8)
8.6
Diluted earnings per ordinary share (pence) C3(a)
(7.8)
8.1
Weighted average number of shares - millions C3(a)
4,758
4,755