Notes to the Financial Statements
for the year ended 31 December 2004
23 Present Value Of Acquired In-Force Business
| £m | ||
| At 31 December 2004 |
At 31 December 2003 |
|
| Cost | ||
| At beginning of year | 279 |
307 |
| Foreign exchange movements | (19) |
(28) |
| At end of year | 260 |
279 |
| Amortisation for the year | ||
| At beginning of year | (85) |
(52) |
| Amortisation for the year | (17) |
(41) |
| Foreign exchange movements | 6 |
8 |
| At end of year | (96) |
(85) |
| Net book value | ||
| At end of year | 164 |
194 |
