Investor Presentaiton
Continuity in earnings | Underlying Earnings power expected to be unaffected in
aggregate
Expected IFRS17/9
Underlying Earnings¹
IFRS4/IAS39
IFRS17/9
P&C
Health
L&S
Asset Management & Other
7
IFRS17 Presentation | November 3, 2022
All reserves to be calculated
at 'best estimate' and discounted
Risk Adjustment reserve to be
added for additional prudence
Future profits from long-term
business to be isolated ('Contractual
Service Margin')
P&C earnings to be more sensitive to interest rates
L&S earnings to be more predictable driven by the release
of CSM
Health earnings to reflect the underlying nature of the
business
Asset Management & Holdings earnings are unaffected by
the change of accounting standards
All notes are on pages 38-41
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