Strategic Report | Governance | Financial Statements | 107
Personal performance Strategic personal objective 90%
Key achievements
DAVID RICHARDSON Business Performance and Business Model development
Business performance was outstanding; topline growth was very strong and well controlled, with strong pricing discipline maintained throughout the year. This led to increased profit and low new business capital strain which supports our sustainable growth strategy. Key modernisation goals were met in 2023, in particular in the DB business. Major improvements were made to our Finance systems in parallel with an IFRS 17 implementation. Substantial improvements were achieved in all engagement focus areas identified from the 2022 all-staff engagement survey (Environment, Wellbeing, Growth), leading to the Proud to Work at Just score increasing from 80% to 83%. The senior leadership team was further strengthened which will support achievement of the future ambitions of the Group. Good progress has been made against the key regulatory priorities of the PRA and the FCA, including meeting the requirements of Consumer Duty.
Operational Performance and Modernisation
Talent, Engagement and Belonging
Regulatory Developments
Strategic personal objective 80%
Key achievements
ANDY PARSONS Deliver the Business Plan
Delivered the Group Business Plan in 2023 to achieve sales, new business profit, ROE, cost and capital generation targets. Maintained solvency ratio at a strong level and improved its resilience to macroeconomic shocks. Developed market messaging and key KPI’s to showcase value and growth potential in the business, in particular, as we transitioned to IFRS 17. Safely delivered and embedded IFRS 17. Embedded newly developed top down financial controls framework and implemented improved Finance Systems. Continued to build talent, capability and succession across Finance, Legal and Company Secretariat teams, developing and delivering against a clear organisational design and people plan to develop each area.
Develop the Market to Improve Shareholder Value
Finance Transformation
People Leadership
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