PDF - Royal and Sun Alliance

6. Changes in total equity and reserves for the period to 31 December (continued)
28 Ι RSA Ι 2008 Year End Results Ι 26 February 2009
Total
Shareholders' Minority equity and
funds interest reserves
£m £m £m
Balance at 1 January 2007 2,561 331 2,892
Total recognised income for the year 670 15 685
Share issue 404 - 404
Changes in shareholders' interests in subsidiaries (368) (248) (616)
Share options 21 - 21
Prior year final dividend (123) (31) (154)
Current year interim dividend (79) - (79)
Preference dividend (9) - (9)
Balance at 31 December 2007 3,077 67 3,144
During the twelve months to 31 December 2008, 24,707,235 (2007: 12,448,823) ordinary shares were issued on the exercise
of employee share options. The Company also issued 51,770,891 (2007: 66,632,200) ordinary shares under the scrip
scheme approved by the shareholders at the 2008 Annual General Meeting. During 2007, the Company issued 186,350,000
ordinary shares in a placing to fund the acquisition of Codan A/S.
7. Cashflow
12 Months 12 Months
2008 2007
£m £m
Cash and cash equivalents and bank overdrafts (as reported within the condensed
cashflow statement) 1,614 1,538
Add: bank overdrafts - 3
Transfer to non current and disposal group assets held for sale - (32)
Total cash and cash equivalents 1,614 1,509
8. Dividends
31 December 2008 31 December 2007
Per share Total Per share Total
p £m p £m
Ordinary dividend
Final paid in respect of prior year 4.53 147 4.12 123
Interim paid in respect of current year 2.73 90 2.48 79
7.26 237 6.60 202
Preference dividend 9 9
246 211
9. Exchange rates
Local currency/£ 12 Months 2008 12 Months 2007
Average Closing Average Closing
Canadian Dollar 1.96 1.77 2.14 1.96
Danish Kroner 9.39 7.70 10.88 10.15
Euro 1.26 1.03 1.46 1.36
10. Results for 2008
The financial information set out in the announcement does not constitute the company’s statutory accounts for the years
ended 31 December 2008 or 2007. The financial information for the year ended 31 December 2007 is derived from the
statutory accounts for that year which have been delivered to the Registrar of Companies. The statutory Group financial
statement of RSA Insurance Group plc for the year ended 31 December 2008 will be delivered to the Registrar of
Companies following the Annual General Meeting to be held on 18 May 2009. The independent auditors’ reports on the
Group accounts for the years ended 31 December 2007 and 2008 were unqualified, did not draw attention to any matters
by way of emphasis and did not include a statement under section 237(2) or (3) of the Companies Act 1985.