163
FINANCIAL STATEMENTS
FINANCIAL INVESTMENTS CREDIT RATINGS The sector analysis of the Group’s financial investments portfolio by credit rating is shown below:
BB or below £m
Total £m
AAA £m
AA £m
A £m
BBB £m
Unrated £m
%
Basic materials
199.9
0.9 5.1 1.7 4.2 0.5 2.0 6.1 3.5 2.0 3.3 5.8 3.6 8.7 3.0 5.2 0.2
–
–
104.7 179.6
90.6
4.6
– – –
Communications and technology
1,188.9
37.6
82.9 43.3
850.8 234.9 334.1
38.0 22.7 43.5
Auto manufacturers
385.0 976.6 112.8 462.7
–
84.1
Consumer (staples including healthcare)
77.2
261.2
238.7
21.9 28.4
Consumer (cyclical)
– –
–
3.1
80.8
0.5
Energy Banks
167.4 150.3 109.6 140.9
93.0
132.1 455.8 530.4 111.8 301.0
70.2 85.4
–
1,422.5
158.0
568.1 184.9
4.9
Insurance
824.9 462.5 771.3
–
–
–
Financial – other
80.2 43.5
58.1
12.7 54.9
58.8
Real estate including REITs
18.0
353.9 132.0 100.7
– –
Government
1,340.4
442.2
687.1
79.1
–
Industrial
839.6
– –
35.0 29.3
538.1
24.1
141.7
Utilities
2,029.9
837.2 1,163.4
– –
– – – –
Commercial mortgages Infrastructure loans
707.0
148.1
138.1 125.8
276.2 230.1
144.6 730.8
1,220.5
87.2
46.6
Other
38.0
–
–
38.0
–
–
Corporate/government bond total
12,982.5 8,261.1 1,128.5
55.8 1,074.0 1,988.9 3,482.4 5,778.3
403.2
255.7
Lifetime mortgages
35.5
Liquidity funds
4.8 3.9
Derivatives and collateral
897.7
Total
23,269.8
100.0
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