Annual Report & Accounts 2007
32. Investment contracts
Movement in investment contracts liabilities
At 1 January 32,821 27,857
Premiums 6,014 5,725
Claims -3,320 -3,046
Investment return, annual management 1,751 2,285
charges and other expenses
At 31 December 37,266 32,821
Analysed as follows:
Unit-linked contracts 32,151 27,066
Policies with DPF 5,002 5,700
Other 113 55
Total investment contracts liabilities 37,266 32,821
None of the movement in liabilities is attributable to changes in credit risk of the liabilities.
Included in the carrying amount above, £35,574m (2006: £31,365m) is expected to be settled more than 12
months after the balance sheet date.
Unit-linked liabilities are based on the fair value of the underlying assets. Liabilities relating to policies with
DPF are determined using methods and principles consistent with insurance contracts as set out in note 28.
There is no significant difference between carrying values and maturity values of investment contract liabilities.