Business
M&G plc full year 2022 results
M&G plc full year 2022 results.
About this update from M&g Plc
[{"type":"text","content":"\n \n \n 9 March 2023\n \n \n M&G plc full year 2022 results\n \n \n \n Positive net client flows in Asset Management and Wealth in a year of significant market uncertainty\n \n \n \n \n Returned nearly £1 billion to shareholders through dividends and share buy-back\n \n \n \n \n On track to achieve £2.5 billion operating capital generation target by 2024\n \n \n \n \n Launched transformation programme to drive simplification, unlock growth and deliver £200 million cost savings\n \n \n \n \n \n \n \n \n \n \n \n \n \n Net client flows\n \n \n \n \n excl. Heritage\n \n \n \n \n \n \n \n \n \n £0.3bn\n \n \n \n \n \n \n \n \n \n 2021: £0.6bn\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Adjusted Operating Profit\n \n \n \n \n \n \n \n \n \n £529m\n \n \n \n \n \n \n \n \n \n 2021: £721m\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Operating Capital Generation\n \n \n \n \n \n \n \n \n \n £821m\n \n \n \n \n \n \n \n \n \n 2021: £1,117m\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Shareholder\n \n \n \n \n Solvency II ratio\n \n \n \n \n \n \n \n \n \n 199%\n \n \n \n \n \n \n \n \n \n 2021: 218%\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Shareholder returns\n \n \n \n 1\n \n \n \n \n \n \n \n \n \n \n £968m\n \n \n \n \n \n \n \n \n \n 2021: £466m\n \n \n \n \n \n \n \n \n \n \n \n \n 1\n Includes ordinary dividends paid in the year and the total consideration for the share buy-back programme\n \n \n \n Andrea Rossi, Group Chief Executive Officer, said:\n \n \n \n \"I am pleased with how M&G has performed in 2022. Through exceptional market volatility we have clearly demonstrated the diversification and resilience of our business model, which has enabled us to deliver consistently attractive returns for both our shareholders and for our clients.\n \n \n \"We achieved positive net client flows in Asset Management and Wealth for the second year in a row driven by the ongoing turnaround in Wholesale Asset Management and increased client inflows into PruFund. Adjusted operating profit has been impacted by market volatility but benefited from Wealth's contribution more than doubling, as we continue to invest in the propositions offered by this business. We ha...