Business
L&G Half Year Results 2019 Part 3
L&G Half Year Results 2019 Part 3.
About this update from Legal & General Group Plc
[{"type":"text","content":"\n \nRNS Number : 1629I Legal & General Group Plc 07 August 2019 \n\nLegal & General Group Plc\n2019 Half Year Results Part 3\n \nCapital Page 73\n \n6.01 Group regulatory capital - Solvency II\n \nThe group complies with the requirements established by the Solvency II Framework Directive, as adopted by the Prudential Regulation Authority (PRA) in the UK and to measure and monitor its capital resources on this basis.\n \nThe Solvency II results are estimated and unaudited. Further explanation of the underlying methodology and assumptions are set out in the sections below.\n \nThe group calculates its Solvency II capital requirements using a Partial Internal Model. The vast majority of the risk to which the group is exposed is assessed on the Internal Model basis approved by the PRA. Capital requirements for a few smaller entities are assessed using the Standard Formula basis on materiality grounds. The group's US insurance businesses are valued on a local statutory basis, following the PRA's approval to use the Deduction and Aggregation method of including these businesses in the group solvency calculation.\n \nThe table below shows the \"shareholder view\" of the group Own Funds, Solvency Capital Requirement (SCR) and Surplus Own Funds, based on the Partial Internal Model, Matching Adjustment and Transitional Measures on Technical Provisions (TMTP) (recalculated as at end June 2019). The TMTP incorporates estimated impacts of end June 2019 eco...