Financial Statements
Notes to the consolidated accounts
19. Principal Group undertakings
Principal subsidiary undertakings of the Group as at 31 December 2007 are shown below.
Unless otherwise stated, they are undertakings incorporated in England and Wales or Scotland and have only one class of issued ordinary shares. The voting rights are equal to the percentage holdings unless otherwise stated. Other subsidiaries do not materially affect the results of the Group.
| Subsidiary undertaking | Activity | % held |
|---|---|---|
| UK Life & Pensions | ||
| Friends Provident Life & Pensions Limited* | Insurance | 100 |
| Friends Provident Life Assurance Limited | Insurance | 100 |
| Friends Provident Pensions Limited | Insurance | 100 |
| Friends Provident Reinsurance Services Limited | Reinsurance | 100 |
| Friends Provident Management Services Limited* | Management services | 100 |
| Pantheon Financial Limited | IFA distribution business | 100 |
| Sesame Group Limited | IFA distribution business | 100 |
| International Life & Pensions | ||
| Friends Provident International Limited (i) | Insurance | 100 |
| Lombard International Assurance SA (ii) * | Insurance | 100 |
| Asset Management | ||
| F&C Asset Management plc* | Holding company | |
| Ordinary shares | 52.19 | |
| Variable rate cumulative preference shares | 100 | |
| F&C Managed Pension Funds Limited | Insurance | 52.19 |
| FP Fund Managers Limited | Asset management | 52.19 |
| F&C Managers Ltd (formerly ISIS Investment Management Limited) | Asset management | 52.19 |
| F&C Fund Management Limited | Asset management | 52.19 |
| F&C Portugal Gestao de Patrimonios SA (iii) | Asset management | 52.19 |
| F&C Ireland Limited (iv) | Asset management | 52.19 |
| F&C Netherlands BV (v) | Asset management | 52.19 |
| F&C Management Limited | Asset management | 52.19 |
| F&C Luxembourg (ii) | Asset management | 52.19 |
| F&C Investment Business Limited | Investment trust management | 52.19 |
| F&C Asset Management Services Limited | Management services | 52.19 |
| F&C Treasury Limited | Treasury management | 52.19 |
| F&C Commercial Property Trust plc (vi) | Property company | 52.75 |