149 ANNUAL REPORT 2010 SHARPENING OUR FOCUS Income statement –  Underlying earnings Americas The  Nether- lands United  Kingdom New  Markets Holding  and other  activities Elimi- nations Total Associates  elimi- nations Total  IFRS  based 2008 Underlying earnings  before tax  723   378   148   101   (130)  18   1,238   (15)  1,223  Fair value items  (1,748)  (193)  (22)  (24) 342  –   (1,645) –   (1,645) Realized gains / (losses)  on investments 17   48  1   (5) –  –  61  –  61  Impairment charges  (812)  (138)  (23)  (76)  (34) –   (1,083) 9   (1,074) Impairment reversals 36  – – – – – 36 – 36 Other income / (charges) 4   –   (17) 1   (1) 1   (12) –   (12) Run-off businesses 350  – – – – – 350 – 350 Income / (loss)  before tax  (1,430)  95  87   (3) 177  19   (1,055)  (6)  (1,061) Income tax  (expense) / benefi t  51   (1)  18   (31)  (64)  –   (27)  6   (21) NET INCOME / (LOSS)  (1,379)  94  105   (34) 113  19   (1,082) –   (1,082) Inter-segment underlying  earnings  (69)  (35) 2   (6) 108  Revenues 2008 Life insurance gross  premiums  5,975   3,204   9,017   1,880   –   –   20,076   (277)  19,799  Accident and health  insurance  1,713   210   –   71   –   –   1,994   –   1,994  General insurance –  458 – 158 – – 616 – 616 Total gross premiums 7,688  3,872 9,017 2,109 – – 22,686  (277) 22,409 Investment income 4,681   2,387  2,438  425  218   (120) 10,029   (64) 9,965  Fee and commission  income 938  416 220 129 – – 1,703 – 1,703 Other revenues 2  – – 3 – – 5 – 5 TOTAL REVENUES 13,309   6,675  11,675  2,666  218   (120) 34,423   (341) 34,082  Inter-segment revenues 4  – 2 – 114