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)View entire presentation