STRATEGIC REPORT
15
Who we create value for
SHAREHOLDERS By managing our resources effectively we generate profits in excess of our cost of capital. We manage our capital conservatively and are focused on increasing our organic capital generation.
INVESTMENT STRATEGY Continuous improvements in our investment strategy to generate value for shareholders and better value for customers We invest in private placements, commercial property mortgages and infrastructure loans, as well as investment grade fixed income securities such as government and corporate bonds. We originate lifetime mortgages to provide matching cash flows for longer duration liabilities and to achieve a higher return than liquid financial assets.
CUSTOMERS Individuals: We use our medical underwriting to fairly optimise the returns for our customers. Corporate clients: We create opportunities and solve problems for companies using our scalable retirement focused solutions. Trustees and scheme sponsors: We provide member security and de-risk pension liabilities.
COMMUNITIES We are a significant local employer in our communities of Reigate and Belfast. Our communities benefit from job creation, our tax payments and community outreach activities.
INNOVATION Innovatively utilising external funding and reinsurance tools to improve our capital position This includes: • Defined benefit partnering model. • Reinsurance options on new and existing business. • No-negative equity guarantee risk transfer solution.
COLLEAGUES We develop, recognise and reward our colleagues to secure a skilled and motivated team.
For more information on engagement with stakeholders see page 44.
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