Strategic Report | Governance | Financial Statements | 225
ADDITIONAL INFORMATION
The following additional financial information is unaudited.
SOLVENCY II SURPLUS GENERATION The table below shows the expected future emergence of Solvency II surplus from the in-force book in excess of 100% of SCR over the next 35 years. The amounts are shown undiscounted and exclude Excess Own Funds at 31 December 2023 of £1,527m. The core surplus generation assumes that future property growth is in line with the best estimate assumption of 3.3%. The cash flow amounts allow for return on surplus on assets that maintain the current capital coverage ratio. The cash flow amounts shown are before the interest and principal payments on all debt obligations. The projection does not allow for the impact of future new business.
Core surplus generation £m
TMTP amortisation £m
Surplus generation £m
Year
2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043
221 218 215 212 210 208 205 203 199 192 186 181 173 166 159 151 143 134 125 116 457 293 187
(60) (60) (60) (60) (60) (60) (60) (60)
161 158 155 152 150 148 145 143 199 192 186 181 173 166 159 151 143 134 125 116 457 293 187
– – – – – – – – – – – – – – –
2044 – 2048 2049 – 2053 2054 – 2058
Powered by FlippingBook