161
FINANCIAL STATEMENTS
ADDITIONAL FINANCIAL 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 2020 of £1,076m. The core surplus generation assumes that future property growth is in line with the best estimate assumption of 3.8%. 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, and return on surplus assets held or dividends from 31 December 2020. This is a change from prior year disclosure that had any surplus emerging assumed to roll up and earn an investment return, contributing to further surplus, which reduces the surplus emerging presented below.
Core surplus generation £m
TMTP amortisation £m
Surplus generation £m
Year
2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040
319 319 303 283 273 270 253 245 242 227 222 210 199 194 180 177 162 152 144 135 498 265
(155) (157) (157) (157) (157) (157) (157) (157) (157) (157) (157)
164 162 146 126 116 113
96 88 85 70 65
- - - - - - - - - - - -
210 199 194 180 177 162 152 144 135 498 265
2041 – 2045 2046 – 2050 2051 – 2055
92
92
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