Notes to the Financial Statements
for the year ended 31 December 2004
25 Deferred Acquisition Costs
| £m | ||
| At 31 December 2004 |
At 31 December 2003 |
|
| At beginning of year | 427 |
284 |
| Arising on policies written during the year | 323 |
214 |
| Amortisation | (44) |
(30) |
| Foreign exchange and other movements | (41) |
(41) |
| At end of year | 665 |
427 |
| Analysed between: | ||
| Life assurance | 656 |
420 |
| General insurance | 9 |
7 |
665 |
427 |
