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ANNUAL REPORT AND ACCOUNTS 2008

Notes to the consolidated financial statements

8 Insurance premium income

 

2008
£m

 

2007
£m

Life insurance

     

Gross premiums

4,841

 

4,937

Ceded reinsurance premiums

(41)

 

(98)

Net earned premiums

4,800

 

4,839

Non-life insurance

     

Gross premiums written

651

 

632

Ceded reinsurance premiums

(23)

 

(23)

Net premiums

628

 

609

Change in provision for unearned premiums

(16)

 

(18)

Net earned premiums

612

 

591

Total net earned premiums

5,412

 

5,430

Life insurance gross written premiums can be further analysed as follows:

 

2008
£m

 

2007
£m

Life and pensions

4,182

 

4,233

Annuities

645

 

689

Other

14

 

15

Gross premiums

4,841

 

4,937

Non-life insurance gross written premiums can be further analysed as follows:

 

2008
£m

 

2007
£m

Credit protection

203

 

212

Home

441

 

412

Health

7

 

8

651

 

632

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