9 Months Results - To 30th September 1999 Part 2

CGU PLC 10 November 1999 CGU plc STATISTICAL APPENDIX - ISSUED 10 NOVEMBER 1999 UNAUDITED GROUP RESULTS FOR 9 MONTHS ENDED 30 SEPTEMBER 1999 All results in the statistical appendix are before merger integration costs. 9 months to 30 Sept 3 months to 30 Sept 1999 1998 1998 1999 1998 at at at at at average average average average average 1999 roe 1999 roe 1998 roe 1999 roe 1999 roe OPERATING PROFIT £m £m £m £m £m Life assurance UK 184 163 163 62 56 France 68 60 59 24 18 Netherlands 100 96 96 37 34 Other Europe 20 8 9 6 1 United States 11 12 11 3 5 Canada 2 2 2 1 - Rest of World (5) (1) - (2) (1) --- --- --- --- --- 380 340 340 131 113 === === === === === General insurance UK 67 94 94 18 24 France 39 51 51 14 22 Netherlands 25 43 42 4 14 Other Europe 12 10 10 5 (1) United States 141 105 102 40 55 Canada 71 42 42 33 16 Australia & NZ 4 37 36 (8) 14 Rest of World 18 21 22 2 7 Group reinsurance 27 21 21 9 5 --- --- --- --- --- 404 424 420 117 156 === === === === === Associated undertakings UK 5 4 4 2 2 France 1 3 3 - 1 Other Europe 5 3 3 1 1 Rest of World - - - - - --- --- --- --- --- 11 10 10 3 4 === === === === === Asset management/ other financial services UK 17 5 5 10 5 France 7 3 3 3 1 Netherlands 4 6 6 - 1 Other Europe 1 6 6 - 1 --- --- --- --- --- 29 20 20 13 8 === === === === === Operating profit UK 273 266 266 92 87 France 115 117 116 41 42 Netherlands 129 145 144 41 49 Other Europe 38 27 28 12 2 United States 152 117 113 43 60 Canada 73 44 44 34 16 Australia & NZ 4 37 36 (8) 14 Rest of World 13 20 22 - 6 Group reinsurance 27 21 21 9 5 --- --- --- --- --- 824 794 790 264 281 Unallocated expenses (59) (43) (44) (22) (14) Unallocated interest charges - external (52) (59) (58) (19) (21) - intra-group (95) (67) (67) (34) (22) Goodwill amortisation (15) (3) (3) (5) (2) --- --- --- --- --- Pre-tax operating profit before merger integration costs 603 622 618 184 222 === === === === === GROUP GENERAL INSURANCE RESULTS 9 months to 30 Sept 3 months to 30 Sept 1999 1998 1998 1999 1998 at at at at at average average average average average 1999 roe 1999 roe 1998 roe 1999 roe 1999 roe £m £m £m £m £m Underwriting result UK (206) (242) (242) (69) (84) France (23) (15) (15) (4) (1) Netherlands (17) (7) (7) (7) (3) Other Europe (40) (37) (37) (9) (16) United States (148) (190) (185) (59) (45) Canada (18) (41) (40) - (11) Australia & NZ (47) (19) (18) (25) (4) Rest of World (21) (23) (25) (10) (9) Group reinsurance 1 (12) (12) - (5) ----- ----- ----- ----- ----- (519) (586) (581) (183) (178) ===== ===== ===== ===== ===== Longer term investment return (LTIR) UK 273 336 336 87 108 France 62 66 66 18 23 Netherlands 42 50 49 11 17 Other Europe 52 47 47 14 15 United States 289 295 287 99 100 Canada 89 83 82 33 27 Australia & NZ 51 56 54 17 18 Rest of World 39 44 47 12 16 Group reinsurance 26 33 33 9 10 --- ----- ----- --- --- 923 1,010 1,001 300 334 === ===== ===== === === General insurance result UK 67 94 94 18 24 France 39 51 51 14 22 Netherlands 25 43 42 4 14 Other Europe 12 10 10 5 (1) United States 141 105 102 40 55 Canada 71 42 42 33 16 Australia & NZ 4 37 36 (8) 14 Rest of World 18 21 22 2 7 Group reinsurance 27 21 21 9 5 --- --- --- --- --- 404 424 420 117 156 === === === === === Note: Investment income, which is included in the longer term investment return is analysed below. 9 months to 30 Sept 3 months to 30 Sept 1999 1998 1998 1999 1998 at at at at at average average average average average 1999 roe 1999 roe 1998 roe 1999 roe 1999 roe £m £m £m £m £m Investment income UK 222 283 283 65 89 France 36 39 39 9 12 Netherlands 23 26 25 4 9 Other Europe 44 42 42 14 14 United States 223 240 234 75 82 Canada 78 76 75 26 25 Australia & NZ 46 54 52 17 18 Rest of World 32 34 37 11 11 Group reinsurance 24 31 31 9 9 ----- ----- ----- ----- ----- 728 825 818 230 269 ===== ===== ===== ===== ===== Worldwide Life & Savings New Business - 9 months to 30 September New single premiums New annual premiums Investment products Local Local Local 9 months currency 9 months currency 9 months currency 1999 1998 growth 1999 1998 growth 1999 1998 growth £m £m % £m £m % £m £m % UK Individual pensions 303 256 18 50 45 11 Group pensions 256 214 20 32 33 (3) Mortgage - - - 31 38 (18) Other life 1415 1064 33 14 16 (13) PEPs/ISAs/ Unit Trusts - - - - - - 549 364 51 ----- ----- --- --- --- --- --- --- --- 1974 1534 29 127 132 (4) 549 364 51 France AFER (excl. unit-linked) 531 348 51 - - - Unit-linked & other savings 337 370 (9) 8 7 18 Group protection business 111 106 4 1 1 (22) --- --- --- --- -- -- 979 824 18 9 8 13 Netherlands Individual pensions 67 63 5 - - - Group pensions 118 81 46 13 14 (3) Universal life 13 27 (53) 13 10 33 Other individual life 37 43 (15) 25 25 (4) Group life 9 8 8 6 5 5 --- --- --- --- --- --- 244 222 9 57 54 4 Italy Unit-linked 590 540 9 15 9 70 Savings, protection & other 89 40 122 23 29 (21) --- --- --- --- --- --- 679 580 17 38 38 1 Poland Life & savings 9 4 167 44 42 16 Pensions - - - 181 - n/a --- --- --- --- --- --- 9 4 167 225 42 487 Germany Life & savings 28 6 n/a 12 4 n/a Pensions & annuities 55 6 n/a 12 3 n/a --- --- --- --- --- --- 83 12 n/a 24 7 n/a Other Europe Life & pensions 138 53 160 8 6 29 UCITS (ii) - - - - - - 86 98 (12) --- --- --- -- -- -- -- -- ---- 138 53 160 8 6 29 86 98 (12) United States Life assurance 5 7 (27) 7 11 (36) Pensions & annuities 123 124 (3) 8 7 - --- --- -- -- -- -- 128 131 (5) 15 18 (15) Other 22 21 9 18 9 94 ----- ----- -- --- --- --- --- --- --- Total 4256 3381 25 521 314 67 635 462 37 ===== ===== == === === === === === === Notes: (i) Average exchange rates used and premiums are gross of reassurance. (ii) UCITS are collective investments sold throughout Europe and Asia. (iii) 1998 figures exclude sales from discontinued business. GENERAL INSURANCE ANALYSIS BY TERRITORY UNITED KINGDOM General insurance 9 months to 30 September Premium income Underwriting result Operating ratio 1999 1998 Growth 1999 1998 1999 1998 £m £m % £m £m % % Personal Motor 394 408 (3) (63) (64) 117 116 Homeowners 452 416 9 7 (21) 98 104 Other 125 217 (42) 16 20 108 87 ---- ---- ---- ---- 971 1041 (7) (40) (65) 105 105 Commercial Motor 246 256 (4) (68) (70) 128 128 Property 319 384 (17) (27) (21) 108 106 Liability 190 231 (18) (63) (58) 132 126 Other 147 173 (15) 10 7 93 96 ---- ---- ----- ----- 902 1044 (14) (148) (142) 116 114 ---- ---- ----- ----- Total 1873 2085 (10) (188) (207) 110 110 London market 114 160 (29) (18) (35) 113 123 ---- ---- ----- ----- Total 1987 2245 (11) (206) (242) 111 111 ==== ==== ===== ===== Underwriting ratios 1999 1998 % % Claims 81 82 Commission 16 15 Expenses 14 14 --- --- 111 111 === === UNITED KINGDOM General insurance 3 months to 30 September Premium income Underwriting result Operating ratio 1999 1998 Growth 1999 1998 1999 1998 £m £m % £m £m % % Personal Motor 138 145 (5) (15) (23) 112 117 Homeowners 151 140 8 (4) (5) 102 102 Other 50 77 (35) 4 - 106 94 --- --- --- --- 339 362 (6) (15) (28) 105 106 Commercial Motor 78 77 1 (16) (27) 121 134 Property 91 111 (18) (19) 2 120 101 Liability 55 66 (17) (21) (16) 136 124 Other 44 51 (13) 5 2 92 100 --- --- --- --- 268 305 (12) (51) (39) 119 114 --- --- --- --- Total 607 667 (9) (66) (67) 111 109 London market 14 29 (53) (3) (17) 119 155 --- --- --- --- Total 621 696 (11) (69) (84) 111 111 === === === === Underwriting ratios 1999 1998 % % Claims 80 80 Commission 16 15 Expenses 15 16 --- --- 111 111 === === FRANCE General insurance 9 months to 30 September Underwriting Operating Premium income result ratio 1999 1998 Growth 1999 1998 1999 1998 FFrm FFrm % FFrm FFrm % % Agents/brokers Property 2128 2151 (1) 90 47 94 96 Motor 1806 1648 10 (95) (94) 105 105 Health 883 850 4 26 48 96 94 Other 795 693 15 (98) (61) 113 109 ---- ---- ----- ----- 5612 5342 5 (77) (60) 101 100 Direct 313 166 89 (146) (88) 148 152 ---- ---- ----- --- Total 5925 5508 8 (223) (148) 103 102 ==== ==== ===== === 3 months to 30 September Underwriting Operating Premium income result ratio 1999 1998 Growth 1999 1998 1999 1998 FFrm FFrm % FFrm FFrm % % Agents/brokers Property 586 586 - 127 52 88 96 Motor 567 496 14 (46) (38) 109 108 Health 293 282 4 (24) 16 108 95 Other 199 185 8 (56) (10) 130 104 ---- ---- ----- ---- 1645 1549 6 1 20 102 100 Direct 80 40 100 (39) (32) 147 176 ---- ---- ----- --- Total 1725 1589 9 (38) (12) 104 102 ==== ==== ===== === Underwriting ratios 9 months to 3 months to 30 September 30 September 1999 1998 1999 1998 % % % % Claims 70 68 67 67 Commission 18 20 20 20 Expenses 15 14 17 15 --- --- --- --- Operating 103 102 104 102 === === === === NETHERLANDS General insurance 9 months to 30 September Underwriting Operating Premium income result ratio 1999 1998 Growth 1999 1998 1999 1998 Flm Flm % Flm Flm % % Domestic 122 118 4 3 10 97 91 Motor 307 290 6 (63) (24) 121 108 Commercial fire 176 176 - 18 (7) 87 102 Liability 82 79 4 (22) (14) 130 118 Personal accident 114 95 20 5 9 93 87 Inward reinsurance 24 26 (9) (4) (4) 114 115 Other 123 118 4 7 7 90 93 --- --- --- --- Total 948 902 5 (56) (23) 105 102 === === === === 3 months to 30 September Underwriting Operating Premium income result ratio 1999 1998 Growth 1999 1998 1999 1998 Flm Flm % Flm Flm % % Domestic 38 36 6 1 2 99 96 Motor 93 89 5 (13) (11) 115 113 Commercial fire 38 38 1 8 (4) 89 111 Liability 13 12 10 (13) - 170 109 Personal accident 19 18 9 (2) 5 117 95 Inward reinsurance 6 8 (31) (2) (1) 124 109 Other 31 31 (1) (1) (2) 98 108 --- --- ---- --- Total 238 232 3 (22) (11) 111 106 === === ==== === Underwriting ratios 9 months to 3 months to 30 September 30 September 1999 1998 1999 1998 % % % % Claims 69 67 69 68 Commission 23 23 24 24 Expenses 13 12 18 14 --- --- --- --- Operating 105 102 111 106 === === === === UNITED STATES General insurance Statutory Basis 9 months to 30 September Underwriting Operating Premium income result ratio 1999 1998 Growth 1999 1998 1999 1998 $m $m % $m $m % % Personal Automobile 1023 1023 - (20) (55) 101 104 Homeowners 333 341 (2) (39) (44) 112 113 Other 95 81 16 4 5 95 94 ---- ---- --- --- 1451 1445 - (55) (94) 103 105 Commercial Automobile 420 406 4 (53) (73) 112 117 Property 761 769 (1) (125) (79) 117 109 Liability 150 145 3 (17) (19) 110 113 Workers compensation 344 300 15 31 11 90 95 Other 99 90 10 (1) (51) 105 n/a ---- ---- ----- ----- 1774 1710 4 (165) (211) 109 111 ---- ---- ----- ----- Total 3225 3155 2 (220) (305) 106 109 ==== ==== ===== ===== Underwriting ratios 1999 1998 % % Claims 76 78 Commission 16 17 Expenses 14 14 --- --- 106 109 === === UNITED STATES General insurance Statutory Basis 3 months to 30 September Underwriting Operating Premium income result ratio 1999 1998 Growth 1999 1998 1999 1998 $m $m % $m $m % % Personal Automobile 326 344 (5) (18) (9) 106 102 Homeowners 125 125 1 (14) (5) 110 102 Other 29 28 - (5) - 117 100 --- --- --- --- 480 497 (3) (37) (14) 107 102 Commercial Automobile 140 127 11 (22) (28) 116 123 Property 255 257 (1) (30) (7) 112 102 Liability 56 42 33 - (8) 98 121 Workers compensation 115 88 29 24 10 83 92 Other 35 31 12 (12) (20) 133 n/a --- --- --- --- 601 545 10 (40) (53) 107 111 ---- ---- ----- ----- Total 1081 1042 4 (77) (67) 107 106 ==== ==== ===== ===== Underwriting ratios 1999 1998 % % Claims 78 75 Commission 16 17 Expenses 13 14 --- --- 107 106 === === CANADA General insurance 9 months to 30 September Underwriting Operating Premium income result ratio 1999 1998 Growth 1999 1998 1999 1998 C$m C$m % C$m C$m % % Automobile 850 893 (5) (4) 20 100 97 Property 441 461 (4) (23) (53) 105 113 Liability 109 128 (15) (21) (27) 119 119 Other 23 26 (10) 4 8 79 70 ---- ---- ---- ---- Total 1423 1508 (6) (44) (52) 103 104 ==== ==== ==== ==== 3 months to 30 September Underwriting Operating Premium income result ratio 1999 1998 Growth 1999 1998 1999 1998 C$m C$m % C$m C$m % % Automobile 284 290 (2) 3 17 98 93 Property 158 158 - (9) (14) 106 113 Liability 41 41 (1) 4 (8) 87 112 Other 7 9 (17) 1 2 92 70 --- --- ---- --- Total 490 498 (1) (1) (3) 100 100 === === ==== === Underwriting ratios 9 months to 3 months to 30 September 30 September 1999 1998 1999 1998 % % % % Claims 72 73 72 71 Commission 18 18 16 17 Expenses 13 13 12 12 --- --- --- --- 103 104 100 100 === === === === Note: CGI integration costs of C$45m are excluded from the 9 months 1998 figures. AUSTRALIA & NZ General insurance 9 months to 30 September Note: All figures are at 9 months to 30 September 1999 average rates of exchange. Underwriting Operating Premium income result ratio 1999 1998 Growth 1999 1998 1999 1998 £m £m % £m £m % % Australia 348 344 1 (54) (25) 118 107 New Zealand 83 77 8 7 6 88 93 --- --- ---- ---- 431 421 2 (47) (19) 112 104 === === ==== ==== 3 months to 30 September Underwriting Operating Premium income result ratio 1999 1998 Growth 1999 1998 1999 1998 £m £m % £m £m % % Australia 127 126 1 (27) (6) 124 103 New Zealand 28 25 14 2 2 91 94 --- --- ---- --- 155 151 3 (25) (4) 118 101 === === ==== === Underwriting ratios 9 months to 3 months to 30 September 30 September 1999 1998 1999 1998 % % % % Claims 85 75 91 74 Commission 14 14 14 14 Expenses 13 15 13 13 --- --- --- --- 112 104 118 101 === === === ===

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