The Co-operative Insurance Society Limited is a wholly-owned subsidiary of Co-operative Financial Services Limited
which is incorporated in Great Britain as an industrial and provident society and is registered in England and Wales.
The Co-operative Group (CWS) Limited is the ultimate parent and is incorporated in Great Britain as an industrial and provident society and is registered in England and Wales. The results of the Society are consolidated in the group headed by the Co-operative Group (CWS) Limited. The financial statements of the immediate and ultimate holding organisations are available from New Century House, Manchester M60 4ES.
In accordance with the exemption available under FRS 8, transactions with The Co-operative Bank plc, a fellow subsidiary of the Co-operative Group (CWS) Limited, are not disclosed because they are considered to have taken place in the normal course of banking business and as such are covered by banking confidentiality rules.
Included within the technical provision for linked liabilities is a liability of £165.2m (2002: £136.7m) to the CIS Employees' Pension Scheme relating to its investment in a unit-linked fund managed by the Society.
There are no related party transactions, material to the Society, which are not eliminated on consolidation of the Co-operative Insurance Society Limited group.
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