Setting new standards - Friends Life

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FINANCIAL STATEMENTS IFRS FINANCIAL STATEMENTS EEV SUPPLEMENTARY INFORMATION Notes to the consolidated accounts continued 30. Risk management objectives and policies for mitigating risks continued Year ended 31 December 2006 Less More than than No one 1–5 6–10 11–15 16–20 20 fixed Total year years years years years years term 2006 £m £m £m £m £m £m £m £m Financial and insurance assets: Cash flow interest rate risk Shares and other variable yield securities - - - - - - - - Units in unit trusts and shares in open-ended investment companies - - - - - - - - Debt securities and other fixed income securities 33 92 49 19 10 131 - 334 Participation in investment pools - - - - - - - - Derivative financial instruments - 2 3 1 32 77 - 115 Deposits with credit institutions 145 - - - - - - 145 Fair value interest rate risk Shares and other variable yield securities - - - - - - 5,279 5,279 Units in unit trusts and shares in open-ended investment companies - - - - - - 873 873 Debt securities and other fixed income securities 232 679 2,358 2,656 1,564 4,839 - 12,328 Participation in investment pools - - - 136 - - - 136 Derivative financial instruments 7 14 34 19 12 2 - 88 Deposits with credit institutions - - - - - - - - Reinsurance assets 12 9 12 23 35 (7) 1 85 Financial and insurance liabilities: Fair value interest rate risk Derivative financial instruments 5 3 10 3 - - - 21 Insurance contracts 452 1,869 3,077 1,009 397 181 5,489 12,474 Investment contracts 312 657 781 694 589 686 2,035 5,754 Note that while significant cash flows often occur at the maturity date, there are other cash flows which occur throughout the term of the contracts, including income from investments, premiums, annuity payments, death and sickness payments, expenses and commission. 146 <strong>Friends</strong> Provident Annual Report & Accounts 2006
PARENT COMPANY ACCOUNTS ABBREVIATIONS AND DEFINITIONS Notes to the consolidated accounts continued 30. Risk management objectives and policies for mitigating risks continued Year ended 31 December 2005 Less More than than No one 1–5 6–10 11–15 16–20 20 fixed Total year years years years years years term 2005 £m £m £m £m £m £m £m £m Financial and insurance assets: Cash flow interest rate risk Shares and other variable yield securities - - - - - - - - Units in unit trusts and shares in open-ended investment companies - - - - - - - - Debt securities and other fixed income securities 55 68 33 49 15 197 - 417 Participation in investment pools - - - - - - - - Derivative financial instruments - (15) (40) (14) 73 144 - 148 Deposits with credit institutions 144 - - - - - - 144 Fair value interest rate risk Shares and other variable yield securities - - - - - - 9,778 9,778 Units in unit trusts and shares in open-ended investment companies - - - - - - 262 262 Debt securities and other fixed income securities 404 951 3,337 2,192 2,084 4,682 - 13,650 Participation in investment pools - - - 141 - - - 141 Derivative financial instruments (6) 17 45 28 13 4 - 101 Deposits with credit institutions - - - - - - - - Reinsurance assets 8 4 16 29 50 70 6 183 Financial and insurance liabilities: Fair value interest rate risk Insurance contracts 524 2,152 2,705 1,415 609 435 5,471 13,311 Investment contracts 269 675 824 715 634 833 2,510 6,460 <strong>Friends</strong> Provident Annual Report & Accounts 2006 147
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Setting new standards Friends Provi
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ANNUAL REVIEW CORPORATE GOVERNANCE
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Group financial highlights Group
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INTERNATIONAL LIFE & PENSIONS ASSET
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DIRECTORS’ REPORT CORPORATE GOVER
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FINANCIAL STATEMENTS Independent Au
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PARENT COMPANY ACCOUNTS ABBREVIATIO
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