RNS Number:9782H
General Accident PLC
26 February 2003




INFORMATION FOR GENERAL ACCIDENT PREFERENCE SHAREHOLDERS



GENERAL ACCIDENT PLC AND SUBSIDIARY COMPANIES

Unaudited results for the year ended 31 December 2002
These results are published for the benefit of preference shareholders of General Accident plc, whose
shares have remained listed following the merger of the Company with Commercial Union plc, in June 1998 to
form CGU plc (CGU), and the subsequent merger of CGU with Norwich Union plc in May 2000 to form Aviva plc
(formerly CGNU plc).

We have delivered a robust set of results, with operating profit before tax of #1,178 million, in a
difficult year where the ongoing turmoil in investment markets has affected consumer demand and investor
sentiment.

The benefits of a strong business model, where resilient long-term savings operations are allied with a
cash-generative general insurance business, are evident in these tough market conditions. We expect 2003 to
be a challenging year and will continue our emphasis on capital disciplines, cost management and building
our bancassurance opportunities.

Summarised consolidated profit and loss account
                                                                                                 Restated*
Statutory results                                                           Unaudited            unaudited
                                                                           results to           results to
                                                                          31 December          31 December
                                                                                 2002                 2001
                                                                                   #m                   #m
Premium income (after reinsurance) and investment sales                        27,502               27,966
                                                                               ------               ------
Operating profit before tax                                                     1,178                1,407
                                                                               ------               ------
(Loss)/profit on ordinary activities before tax                                 (248)                  623
Tax on (loss)/ profit on ordinary activities                                    (238)                (206)
Minority interests                                                               (24)                 (35)
(Loss)/profit attributable to shareholders                                      (510)                  382
Preference dividends                                                             (21)                 (21)
                                                                               ------               ------
(Loss)/profit attributable to equity shareholders                               (531)                  361
                                                                               ======               ======

Summarised balance sheet
                                                                                                Restated*
                                                                        Unaudited               Unaudited
                                                                       results to              results to
                                                                      31 December             31 December
                                                                             2002                    2001
                                                                               #m                      #m

Total assets                                                              181,778                 183,334
                                                                           ------                  ------
Equity shareholders' funds                                                 10,209                  13,341
Non-equity shareholders' funds and minority interests                         733                     640
Technical provisions and other liabilities                                170,836                 169,353
                                                                          -------                  ------
Total liabilities                                                         181,778                 183,334
                                                                           ======                  ======


Summarised cash flow statement                                          Unaudited               Unaudited
                                                                       results to              results to
                                                                      31 December             31 December
                                                                             2002                    2001
                                                                               #m                      #m
Net cash inflow from operating activities                                   1,014                     438

Net cash inflow from other activities                                         655                     426
Net purchases of investments                                                (765)                 (1,138)
                                                                           ------                  ------
Increase/(decrease) in cash holdings                                          904                   (274)
                                                                           ======                  ======

* Restated for the impact of Financial Reporting Standard 19 'Deferred Tax'.


The principal impact of the change from the accounting policy applied under SSAP 15 is to provide
additional deferred tax on unrealised appreciation or depreciation of investments. This decreased
shareholders' funds at 31 December 2001 by #118 million.


The audited results of Aviva plc for the year ended 31 December 2002 are available on application to the
Group Company Secretary, Aviva plc, St. Helen's, 1 Undershaft, London EC3P 3DQ. A copy can also be found on
the Aviva plc website at www.aviva.com

Enquiries: Steve Riley, Investor Relations Director, Aviva plc      020 76628115






                      This information is provided by RNS
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