Financial highlights

Life APE new business sales

Life APE new business sales. 2012: Asia £899m US £719m UK £412m. 2013: Asia £1,010m US £797m UK £355m. 7% increase between 2012 and 2013

  • greyAsia
  • grey blueUS
  • maroonUK

New business profit

New business profit. 2012: Asia £547m US £442m UK £152m. 2013: Asia £659m US £479m UK £130m. 11% increase between 2012 and 2013

  • greyAsia
  • grey blueUS
  • maroonUK

Free surplus investment in new business

Free surplus investment in new business. 2012: Asia £162m US £180m UK £22m. 2013: Asia £165m US £211m UK £20m. 9% decrease between 2012 and 2013

  • greyAsia
  • grey blueUS
  • maroonUK

External funds under management

External funds under management. At 30 June 2012: M&G Institutional £46,291m M&G Retail £48,352m Eastspring £15,561m. At 30 June 2013: M&G Institutional £55,484m M&G Retail £62,655m Eastspring £19,268m. 25% increase between 2012 and 2013

Total asset management net inflows

Total asset management net inflows. Half year 2012: M&G Institutional £667m M&G Retail £4,274m Eastspring £426m. Half year 2013: M&G Institutional £914m M&G Retail £4,754m Eastspring £2,006m. 9% increase between 2012 and 2013

  • greyM&G Institutional
  • grey blueM&G Retail
  • maroonEastspring2

IFRS operating profit3

IFRS operating profit. Half Year 2012: £1,157m. Half Year 2013: £1,415m. 22% increase between 2012 and 2013

EEV operating profit3

EEV operating profit. Half Year 2012: £2,109m. Half Year 2013: £2,479m. 18% increase between 2012 and 2013

IFRS profit before tax3

IFRS profit before tax. Half Year 2012: £1,166m. Half Year 2013: £506m. 57% decrease between 2012 and 2013

EEV profit before tax3

EEV profit before tax. Half Year 2012: £1,891m. Half Year 2013: £2,511m. 33% increase between 2012 and 2013

Underlying free surplus generated4

Underlying free surplus generated. 2012: £1,031m. 2013: £1,152m. 12% increase between 2012 and 2013

Business unit net remittances

Business unit net remittances. 2012: £726m. 2013: £844m. 16% increase between 2012 and 2013

Dividend per share relating to the reporting period

Dividend per share relating to the reporting period. 2012: 8.40p. 2013: 9.73p. 15.8% increase between 2012 and 2013

IGD capital before final dividend5

IGD capital before final dividend. 30 Jun 2012: £4.2bn. 30 Jun 2013: £3.9bn.

IFRS shareholders' funds

IFRS shareholders' funds. 30 Jun 2012: £9.3bn. 31 December 2012: £10.4bn. 30 Jun 2013: £9.6bn. Return on IFRS shareholders' funds: 30 Jun 2012; 21%. 31 Dec 2012: 23%. 30 Jun 2013: 21%.

EEV shareholders' funds

EEV shareholders' funds. 30 Jun 2012: £20.6bn. 31 December 2012: £22.4bn. 30 Jun 2013: £24.5bn. Return on EEV shareholders' funds: 30 Jun 2012; 16%. 31 Dec 2012: 16%. 30 Jun 2013: 16%.

Notes

  1. Includes Group’s proportionate share in PPM South Africa and the Asia asset management joint ventures.
  2. Net inflows exclude Asia Money Market Fund (MMF) inflows of £107 million (2012: net outflows £103 million).
  3. For IFRS reporting purposes, the Group adopted new and amended accounting standards in 2013. Accordingly, the IFRS elements and EEV basis shareholders’ interest for the comparative results have been adjusted for the retrospective application of this adoption of IFRS accounting policies, as discussed in note B of the IFRS financial statements and note 1 of the EEV basis results. In addition, following its reclassification as held for sale at 30 June 2013, operating results exclude the result of the Japan Life insurance business. 2012 comparatives have been retrospectively adjusted on a comparable basis.
  4. Underlying free surplus generated comprises underlying free surplus generated from the Group’s long-term business (net of investment in new business) and that generated from asset management operations. In addition, following its reclassification as held for sale at 30 June 2013, operating results exclude the result of the Japan Life insurance business. 2012 comparatives have been retrospectively adjusted on a comparable basis.
  5. Estimated. As disclosed in full year 2012 results, from March 2013 the basis of calculating Jackson’s contribution to the Group’s IGD surplus was changed, further detail can be found in the section ‘C.1 Regulatory Capital (IGD)’ of Risk and capital management. The 2012 comparative is as previously reported and does not reflect the new basis.
  6. Includes Group’s proportionate share of the liabilities and associated flows of the insurance joint ventures in Asia.
  7. REALIC was acquired in September 2012. The US policyholder liabilities at full year 2012 were £92 billion.
  8. Defined as movements in shareholder-backed policyholder liabilities arising from premiums (net of charges), surrenders/withdrawals, maturities and deaths.
  9. Annualised operating profit after tax and non-controlling interests as percentage of opening shareholders’ funds. For IFRS reporting purposes, the Group adopted amended accounting standards in 2013. Accordingly, the IFRS elements and EEV basis shareholders’ interest for the comparative results have been adjusted for the retrospective application of this adoption of IFRS accounting policies for the purpose of the calculation above as discussed in note B of the IFRS financial statements and in note 1 of the EEV basis results. In addition, following its reclassification as held for sale at 30 June 2013, operating results exclude the result of the Japan Life insurance business. 2012 comparatives have been retrospectively adjusted on a comparable basis. For the purpose of the calculation above Japan has been removed from opening shareholders’ funds.
  10. The 2012 comparative results have been adjusted from those previously published for the retrospective application of the new and amended accounting standards as discussed in note B of the IFRS financial statements. In addition, following its reclassification as held for sale at 30 June 2013, operating results exclude the result of the Japan Life insurance business. 2012 comparatives have been retrospectively adjusted on a comparable basis.
 
 

Reporting tools

Save pages of the report
to download, print or email

View your pages

Feedback

Your comments and ideas help us
to shape future reports to suit your needs

Tell us your views