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Investor Presentaiton

33 Robust capital Strong regulatory capital & balance sheet Financial flexibility Growing free surplus funds growth Regulatory capital and ratings metrics remain strong Significant financial flexibility to support future investments HK RBC and C-ROSS II adopted Enhanced disclosure given expected changes to HKIA capital reporting guidance $16.2bn Group shareholder GPCR surplus1,2,3,4 317% Group shareholder GPCR cover ratio1,2,3,4 $8.6bn Shareholder Free Surplus 1,6 22%/AA- Moody's total leverage ratio ¹/FSR rating8 548% Group shareholder GMCR cover ratio1,2,4,5 $2.1bn Holding company cash¹ Represents capital available for investment Less impacted by recent regulatory changes than GWS Free surplus and required capital 2018-HY22, $bn 8.6 Free surplus6 8.4 5.0 5.7 3.6 2.1 5.6 2.9 3.2 3.4 3.2 3.2 EV required capital 2018 2019 2020 2021 2021 Group7 HY22 Group . EV required capital remains on GPCR basis 1. At 30 June 2022. Asia 2. Prudential applies the Insurance (Group Capital) Rules set out in the GWS Framework to determine group regulatory capital requirements (both minimum and prescribed levels). 3. GWS capital resources in excess of the Group prescribed capital requirement (GPCR) attributable to shareholder business. 4. Before allowing for the 2022 first cash interim dividend. 5. GWS coverage ratio of capital resources over Group minimum capital requirement (GMCR) attributable to shareholder business. 6. Excluding distribution rights and other intangibles. 7. Proforma for $1.7bn debt redemption in January 2022. 8. The Group has a AA- Financial Strength Rating from Standard & Poors and from Fitch. (post regulatory changes)
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