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SUMMARY CONSOLIDATED INCOME STATEMENT MANAGEMENT BASIS 12 Months 12 Months 2008 2007 £m £m Continuing operations Net written premiums 6,462 5,837 Underwriting result 384 278 Investment income 654 591 Realised gains 150 174 Unrealised gains/(losses), impairments and foreign exchange (118) (55) Unwind of discount including ADC (92) (81) Investment result 594 629 Insurance result 978 907 Other activities (111) (93) Operating result 867 814 Interest costs (108) (104) Amortisation (18) (18) Profit before disposals 741 692 Profit/(loss) on disposals 18 (22) Profit before tax 759 670 Taxation (173) (29) Profit after tax from continuing operations 586 641 Discontinued operations Loss after tax from discontinued operations - (13) Profit after tax 586 628 Earnings per share on profit from continuing operations attributable to the ordinary shareholders of the Company: Basic 17.3p 19.3p Diluted 17.0p 19.0p Earnings per share on profit attributable to the ordinary shareholders of the Company: Basic 17.3p 18.9p Diluted 17.0p 18.6p 10 Ι RSA Ι 2008 Year End Results Ι 26 February 2009
SUMMARY CONSOLIDATED BALANCE SHEET MANAGEMENT BASIS 31 December 31 December 2008 2007 £m £m Assets Goodwill and other intangible assets 744 663 Property and equipment 309 377 Associated undertakings 123 105 Investments Investment property 365 429 Equity securities 940 1,487 Debt and fixed income securities 11,642 9,581 Other 166 272 Total investments - management basis 13,113 11,769 Reinsurers' share of insurance contract liabilities 1,759 1,872 Insurance and reinsurance debtors 2,890 2,579 Deferred acquisition costs 653 542 Other debtors and other assets 1,659 1,069 Cash and cash equivalents 1,614 1,509 Assets associated with continuing operations 22,864 20,485 Assets associated with discontinued operations* 3 108 Total assets 22,867 20,593 Equity, reserves and liabilities Equity and reserves Shareholders' funds 3,839 3,077 Minority interests 81 67 Total equity and reserves 3,920 3,144 Loan capital 1,311 1,194 Total equity, reserves and loan capital 5,231 4,338 Liabilities (excluding loan capital) Insurance contract liabilities 15,055 13,727 Insurance and reinsurance liabilities 545 426 Borrowings 300 303 Provisions and other liabilities 1,736 1,734 Liabilities associated with continuing operations 17,636 16,190 Liabilities associated with discontinued operations* - 65 Total liabilities (excluding loan capital) 17,636 16,255 Total equity, reserves and liabilities 22,867 20,593 These summary consolidated financial statements have been approved for issue by the Board of Directors on 25 February 2009. ∗ Assets and liabilities associated with discontinued operations in 2008 relate to property held for sale and in 2007 to a UK subsidiary and property held for sale. 11 Ι RSA Ι 2008 Year End Results Ι 26 February 2009
Page 1 and 2: YEAR END RESULTS 2008 26 February 2
Page 3 and 4: MANAGEMENT REPORT CEO REVIEW The Gr
Page 5 and 6: OPERATIONS REVIEW Operating Result
Page 7 and 8: - Investment result The analysis of
Page 9: At 31 December 2008, the Group had
Page 13 and 14: Cashflow - management basis 12 Mont
Page 15 and 16: REGIONAL ANALYSIS OF INSURANCE OPER
Page 17 and 18: ESTIMATION TECHNIQUES, RISKS, UNCER
Page 19 and 20: Acquisitions and disposals The Grou
Page 21 and 22: Condensed Financial Statements Cond
Page 23 and 24: CONDENSED STATEMENT OF RECOGNISED I
Page 25 and 26: CONDENSED CASHFLOW STATEMENT STATUT
Page 27 and 28: The Group’s results are not subje
Page 29 and 30: RESPONSIBILITY STATEMENT We confirm

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