Life Business 23
Profitability Sales
+7% +13% +19% +5% +15%
59.9
55.6
53.0
46.7
32.2
26.3
28.0
24.52
8.9
8.5 2012 £m
2011 £m
Underlying Annuities Pensions Equity Protection
operating APE APE Release APE
profit APE1
Statements and Reviews
Notes:
APE = Annual Premium Equivalent. This is a measure comprising new regular premium sales plus 10% of single premiums.
1 Equity release loans are reported internally on an APE basis. Actual loans advanced during 2012 were £89 million (2011: £85 million).
2 Restated, see page 13 for details.
Our Businesses
Risk Management
Combining great service with
‘best in class’ products
We remain committed to achieving excellent service
standards and 2012 was another strong year for
both customer and IFA satisfaction. Our reputation
as a customer-focused insurer was recognised
across a number of industry service awards
Corporate Governance
including the FT Adviser five star service provider
awards and LifeSearch awards for best service and
best overall product provider.
In addition our products also won a number of
awards during 2012 including the Gold Standard
award for Individual Pensions and for Protection,
Underlying operating profit Best Equity Release Provider in six separate
£26.3m industry awards and the Moneyfacts award for
Our Accounts
Income Protection Provider of the year.