HSBC Results Presentation Deck
Insurance
Key financial metrics*
Adjusted income statement, $m
Revenue
Of which: NII
Of which: market impacts
ECL
Operating expenses
Share of profit in associates and JVs
Profit before tax
Memo: distribution income**
FY21
2,761
2,492
516
(20)
(618)
18
2,141
832
FY20
FY19
1,973 2,741
2,414
2,318
82
127
(78)
(70)
(506)
(514)
1
43
1,382 2,208
816
1,057
Financial highlights:
FY21 reported VNB of $1,090m, up $314m (40%) vs.
FY20
ā PBT of $2.1bn up $0.8bn vs. FY20; revenue up $788m vs.
FY20, with $434m higher favourable market impacts, driven
by equities
ā Manufacturing operating expenses of $0.6bn, up 20% vs.
FY20 reflecting investment in Pinnacle and broader business
growth
Reported Embedded value, $bn
11%
CAGR
13.9
4.9
9.0
FY19
ANP
36%
3,382
FY19
15.4
6.0
FY20
Other net assets
PVIF
Reported ANP and VNB, $m
VNB margin
VNB
1,225
9.4
34%
2,307
FY20
FY21 VNB by region
82%
776
17.0
7.5
9.5
Other Asia
FY21
38%
2,892
1,090
FY21
6% 4%
8%
Strategy
LATAM
Insurance HK quarterly ANP, $m
948
751 722
1 2 3
2019
4021 results
434
Offshore
589
466 501
4 1 2 3
2020
Hong Kong
Europe
* Financial results for the Insurance business are prepared on the current IFRS 4 basis and, as such, do not reflect any potential impacts of IFRS 17 'Insurance Contracts', which is effective from 1 January 2023
** Distribution income (HSBC Life and partnerships) through HSBC bank channels
Onshore
336
Appendix
599 628
4 1
561
418
2 3 4
2021
#1 ranked with a combined market share of 22.3%
in Hong Kong for 9M2157, +3.2%ppt vs. 9M20,
driven by strong domestic sales supported by over
50k user registrations on our Health Platforms
Expanded Pinnacle, now present in 5 cities in China
with nearly 700 wealth planners and 135k monthly
users of the HSBC River app
Completed acquisition of AXA Singapore on 11
February 2022, and received regulatory approval to
move to 100% ownership of HSBC Life China
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