Columns 1 to 10 are required to be reporColumns 1 to 10 are required to be reported separately on the three bases defined above (‘This Year’, ‘Last Year’ & ‘LY / TY’).

Columns 1 to 10 are required to be reported separately on the three bases defined above (‘This Year’, ‘Last Year’ & ‘LY / TY’).

In accordance with the prudential standards and the financial statements, Gross Policy Liability should be gross of all reinsurance and, for participating benefits, should exclude Bonuses in respect of the current year.

As required by the prudential standards, the gross policy liability and the reinsurance policy liability are to be separately quantified, with the net policy liability then derived as the difference.

Policy Liabilities are to be valued in accordance with Prudential Standard LPS 1.04 Valuation of Policy Liabilities (LPS 1.04).