ANNUAL REPORT 2001 - Prudential plc

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CONSOLIDATED BALANCE SHEET 31 DECEMBER 2001 2001 2000 Assets Note £m £m Intangible assets Goodwill 17 1,687 1,611 Investments Land and buildings 22 10,487 10,303 Investments in participating interests 23 87 83 Other financial investments 24 109,328 108,125 33 119,902 118,511 Assets held to cover linked liabilities 25 17,453 18,323 Reinsurers’ share of technical provisions Provision for unearned premiums 35 163 5 Long-term business provision 589 353 Claims outstanding 35 221 62 Technical provisions for linked liabilities 330 396 1,303 816 Debtors Debtors arising out of direct insurance operations: Policyholders 270 237 Intermediaries 2 2 Debtors arising out of reinsurance operations 21 14 Other debtors: Tax recoverable 174 50 Other 511 574 978 877 Other assets Banking business assets: Egg 10(b) 8,037 7,895 US Operations 935 708 Tangible assets 26 241 288 Cash at bank and in hand 33 1,436 1,402 Own shares (ordinary shares of parent company) 27 52 31 Present value of acquired in force long-term business 18 138 133 Present value of future margins relating to advances from reinsurers 135 148 10,974 10,605 Prepayments and accrued income Accrued interest and rent 1,125 1,150 Deferred acquisition costs: Long-term business 3,175 2,935 General business 29 17 Other prepayments and accrued income 143 105 4,472 4,207 Total assets 156,769 154,950 40 Prudential plc Annual Report 2001
Restated † 2001 2000 Liabilities Note £m £m Capital and reserves Share capital 27 100 99 Share premium 27 533 458 Profit and loss account 3,317 3,414 Shareholders’ funds – equity interests 3,950 3,971 Minority interests 118 137 Fund for future appropriations 9 13,202 20,917 Technical provisions Provision for unearned premiums 202 175 Long-term business provision 98,511 91,006 Claims outstanding 980 1,022 Equalisation provision 40 38 13 99,733 92,241 Technical provisions for linked liabilities 13 17,783 18,719 Provision for other risks and charges Deferred tax 16 2,005 2,777 Deposits received from reinsurers 192 323 Creditors Creditors arising out of direct insurance operations 420 213 Creditors arising out of reinsurance operations 341 21 Debenture loans 31 2,244 1,585 Amounts owed to credit institutions 31 1,052 909 Other borrowings 31 1,543 230 Jackson National Life funding arrangements 31 2,816 1,920 Other creditors including taxation and social security: Banking business liabilities: Egg 10(b) 7,465 7,386 US Operations 868 654 Tax 338 661 Final dividend 332 322 Other creditors 1,901 1,544 19,320 15,445 Accruals and deferred income 466 420 Total liabilities 156,769 154,950 † As a result of restating comparatives for 2000 to reflect the implementation of FRS 19 on deferred tax, the provision for deferred tax at 31 December 2000 was increased by £2,445m. This increase in provision is matched by reductions of £2,350m in the fund for future appropriations, £49m in shareholders’ capital and reserves and £46m in technical provisions. 41 Prudential plc Annual Report 2001
Page 1 and 2: PRUDENTIAL PLC ANNUAL REPORT 2001
Page 3 and 4: PRUDENTIAL AT A GLANCE PRUDENTIAL
Page 5 and 6: GROUP FINANCIAL HIGHLIGHTS 2001 200
Page 7 and 8: GROUP CHIEF EXECUTIVE’S REVIEW WE
Page 9 and 10: The fastest growing age group in th
Page 11 and 12: est growth prospects in the market
Page 13 and 14: Egg 2001 was another year of outsta
Page 15 and 16: Over the last five years, JNL has m
Page 17 and 18: equivalent (APE) basis were £434 m
Page 19 and 20: 69 per cent). The new business marg
Page 21 and 22: differences and other items. The in
Page 23 and 24: However, we have not been discussin
Page 25 and 26: CORPORATE SOCIAL RESPONSIBILITY REV
Page 27 and 28: Executive Directors 1. Jonathan Blo
Page 29 and 30: Nomination Committee Sir Roger Hurn
Page 31 and 32: REMUNERATION REPORT The Remuneratio
Page 33 and 34: Directors’ Long-term Incentive Pl
Page 35 and 36: Directors’ Share Options The Rest
Page 37 and 38: DIRECTORS’ REPORT Principal Activ
Page 39 and 40: SUMMARY OF STATUTORY BASIS RESULTS
Page 41 and 42: Restated † 2001 2000 Long-term Bu
Page 43: CONSOLIDATED STATEMENT OF TOTAL REC
Page 47 and 48: CONSOLIDATED CASH FLOW STATEMENT YE
Page 49 and 50: 3. Significant Accounting Policies
Page 51 and 52: Reinsurance In the normal course of
Page 53 and 54: Linked business funds Certain long-
Page 55 and 56: 5. Supplemental Earnings Informatio
Page 57 and 58: 7. Segmental Information - New Busi
Page 59 and 60: 9. Segmental Information - Net Asse
Page 61 and 62: 11. Jackson National Life - Additio
Page 63 and 64: 15. Investment Expenses and Charges
Page 65 and 66: 16. Tax continued 2001 2000 £m £m
Page 67 and 68: 21. Fees Payable to Auditors KPMG K
Page 69 and 70: 27. Share Capital and Share Premium
Page 71 and 72: 31. Borrowings continued 2001 2000
Page 73 and 74: 32. Contingencies and Related Oblig
Page 75 and 76: INDEPENDENT AUDITORS’ REPORT TO T
Page 77 and 78: 2001 2000 1999 1998 1997 Analysis b
Page 79 and 80: SUMMARISED CONSOLIDATED PROFIT AND
Page 81 and 82: NOTES ON THE ACHIEVED PROFITS BASIS
Page 83 and 84: 6. Cost of Capital On the achieved
Page 85 and 86: 10. Short-term Fluctuations in Inve
Page 87 and 88: 14. Reconciliation of Movement in S
Page 89 and 90: THE ACHIEVED PROFITS BASIS OF FINAN
Page 91 and 92: HOW TO CONTACT US Prudential plc La

ANNUAL REPORT 2001 - Prudential plc

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