RBS 2011 Annual Report Download - page 83

RBS Group 2011 81
2011
£m
2010
£m
2009
£m
Gross written premium
Personal lines motor excluding broker
- own brand 1,584 1,647 1,738
- partnerships 137 257 311
Personal lines home excluding broker
- own brand 474 478 462
- partnerships 549 556 560
Personal lines rescue and other excluding broker
- own brand 174 178 176
- partnerships 174 159 141
Commercial 435 397 395
International 570 425 354
Other (1) 1 201 343
Total gross written premium 4,098 4,298 4,480
Performance ratios
Return on regulatory capital (3) 11.3% (7.9%) 1.7%
Return on tangible equity (4) 10.3% (6.8%) 1.4%
Loss ratio (5) 70% 91% 83%
Commission ratio (6) 10% 10% 8%
Expense ratio (7) 20% 20% 21%
Combined operating ratio (8) 100% 121% 112%
Balance sheet
Total insurance reserves (£m) (9) 7,284 7,643 7,139
Notes:
(1) ‘Other’ predominately consists of the personal lines broker business.
(2) Total in-force policies include travel and creditor policies sold through RBS Group. These comprise travel policies included in bank accounts e.g. Royalties Gold Account, and creditor policies sold
with bank products including mortgage, loan and card payment protection.
(3) Return on regulatory capital required is based on annualised operating profit/(loss) after tax divided by average notional regulatory equity.
(4) Return on tangible equity is based on annualised operating profit/(loss) after tax divided by average tangible equity.
(5) Loss ratio is based on net claims divided by net premium income.
(6) Commission ratio is based on fees and commissions divided by gross written premium income.
(7) Expense ratio is based on expenses divided by gross written premium.
(8) Combined operating ratio is the sum of the loss, commission and expense ratios.
(9) Consists of general and life insurance liabilities, unearned premium reserves and liability adequacy reserve.