HL Deb 01 December 1997 vol 583 cc154-6WA
Lord Lucas

asked Her Majesty's Government:

Whether they will list the percentage of the with-profits life funds held in cash, bank deposits or fixed-interest securities for each life insurance company as shown in the most recent returns made by the companies to the government.

Lord Simon of Highbury

The returns show segregated assets for life companies' long term business funds. Companies do not usually hold, or report in their

returns, segregated assets for with-profits funds which fall within the long term business funds. A breakdown of non-linked assets for major with-profits companies

SCHEDULE:
Breakdown of non-linked assets for major with profit offices in 1996 (£000s)
Company Fixed Int Amount (F) Per cent. Deposits Amount (D) Per cent Cash Amount (C) Per cent. Total NL assets (T)
AXA Eq & Law Life 1,172,654 17.0 106,562 1.5 65,292 0.9 6,918,015
Britannia Life 1,309,629 46.6 448,046 15.9 3,372 0.1 2.809.489
Britannic 950,655 15.8 20,406 0.3 37,538 0.6 6,025.935
CIS 2,055,611 16.4 30,320 0.2 19,661 0.2 12,553.260
Clerical Medical 2,085,023 23.4 1,479,291 16.6 21,915 0.2 8,917,004
Cornhill 150,326 59.9 24,683 9.8 5,815 2.3 250,923
CU Life 1,843,800 25.6 160,125 2.2 9,485 0.1 7,198.480
Eagle Star Life 3,470,579 52.2 217.473 3.3 31,643 0.5 6,647,706
Ecclesiastical 37,622 19.5 0 0.0 4,218 2.2 192,970
Equitable Life 6,299,693 36.6 401.744 2.3 5,573 0.0 17,227,435
Friends Prov 3,797,673 32.7 663,109 5.7 21,969 0.2 11,618,760
GA Life Ass 1,145,837 18.8 134,344 2.2 76,195 1.2 6,108.446
GA Linked Life 1,191,185 30.9 50.998 1.3 6,483 0.2 3,853.322
Guardian 2,793,482 57.1 61,752 1.3 7.614 0.2 4.889,782
L & M Ass 305,541 23.1 30,215 2.3 0 0.0 1,321,459
Legal & General 7,126,737 35.1 236,479 1.2 107,747 0.5 20,305.527
Medical Sickness 267,352 38.3 15,653 2.2 1,460 0.2 698,335
MGM Assurance 217,206 33.1 24,052 3.7 4,359 0.7 656,426
Nat Farmers 528,003 20.0 0 0.0 52,956 2.0 2,639,388
Nat Mutual Life 621,215 33.8 11,450 0.6 6,594 0.4 1,839.429
Norwich U Life 9,381,391 30.5 700,673 2.3 21,754 0.1 30,751,014
NPI 2,062,841 28.9 573,694 8.0 245,896 3.4 7,128,954
Pearl Assurance 3,217,418 25.1 462,997 3.6 14,160 0.1 12,799,778
Phoenix 600,907 35.4 33,431 2.0 10,539 0.6 1,697,575
Prudential 4,469,596 10.8 103,012 0.2 55,492 0.1 41,220,488
RNPFN 212,217 21.8 39,601 4.1 12,431 1.3 971,617
Refuge Ass 337,588 11.3 6,997 0.2 140 0.0 3,000,346
Rel Mutins Soc 26,719 29.5 4,104 4.5 4 0.0 90,425
Royal Life 2,240,830 28.1 214.025 2.7 0 0.0 7,976,513
Royal London 853,857 15.8 0 0.0 46,298 0.9 5,401,935
S A & London Assur 2,274,110 32.1 220,978 3.1 23,114 0.3 7,076,700
Scot Equitable 3,510,790 52.5 223,792 3.3 40 0.0 6,691,731
Scot Life 2,233,936 51.0 163,540 3.7 15,981 0.4 4,380,211
Scot Mutual 939,578 23.5 5,500 0.1 102,004 2.6 3,993,043
Scot Prov Inst 1,500,421 31.0 109,214 2.3 10,132 0.2 4.841,967
Scottish Am 3,507,983 32.8 578,245 5.4 4,136 0.0 10.688,943
Scottish Widows 3,957,273 23.7 1,221,474 7.3 230 0.0 16.714.959
Standard Life 12,542,862 32,8 541,904 1.4 15,697 0.0 38,205,286
Sun Life 3,647,783 40.9 303,429 3.4 20,906 0.2 8,912.780
UTD Friendly Ins 331,895 12.1 99,077 3.6 2 0.0 2,736,553
Wesleyan 203,001 14.4 61,872 4.4 68 0.0 1,413,501
Windsor Life 378,085 53.8 6,200 0.9 1.490 0.2 702,213
Winterthur Life 139,146 32.6 20,136 4.7 1,758 0.4 426,826
WP Industry — — — — — — —
Total 95,940,050 28.2 9,810.597 2.9 1,092,161 0.3 340.495,449

showing the percentage held in cash, bank deposits and fixed interst securities for the latest year reported (1996) is shown in the table below.