Finance and Capital Management
Our profit drivers
What underpins the earnings of each segment
Segments
Savings & Asset
Management
Sources of
earnings
Asset Management
(Institutional and Retail)
Key operating
profit drivers
Fees minus
expenses
Adjusted Operating
Profit split (H1 2019)¹
With-Profits
(PruFund)
Shareholder transfers,
net of hedging
M
&G
Other
With-Profits
(Traditional)
Result of
other business
Heritage
Shareholder
Annuities & Other
1. Total Adjusted Operating Profit before corporate centre expenses. Mix excludes £127m longevity assumption change from annuity book
Shareholder transfers,
net of hedging
Asset returns, longevity
experience, results of
other businesses
Heritage
S/H
Annuities
& Other
Asset
Savings &
Management
With
profits
Management
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