CAPITAL & RESERVES Amounts in $m


Total funds & capital Outstanding claims Free reserves & capital


Free reserves & capital ratio to outstanding claims


Portfolio composition 21% 17% 15% 26% Equities 8% 9% 54% Feb 2011


INCOME & EXPENDITURE INCOME


Amounts in $m


Calls and premiums Reinsurance premiums


EXPENDITURE Net claims incurred


Acquisition costs Net operating expenses


Operating surplus Investment return


Interest payable on hybrid capital Surplus before taxation Taxation


Surplus after taxation Feb 2010 50%


Cash Absolute Return Funds Fixed Interest


Year ending Year ending Year ending 20/2/2011 20/2/2010 20/2/2009


1,287.0 808.7 477.9


159 %


1,207.0 797.7 409.3


151 %


1,141.0 807.5 333.7


141 %


Year ending Year ending 20/2/2010


20/2/2011 364.8


( 70.2 ) 294.6


( 250.4 ) ( 20.3 ) ( 20.4 ) ( 291.1 )


3.5 69.5


( 9.0 ) 64.0


( 1.4 ) 62.6


( ( ( 447.2 75.9 ) 371.3


( 320.0 ) ( (


23.1 ) 21.0 )


( 364.1 ) 7.2


78.7 9.0 ) 76.9 1.7 ) 75.2


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