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Prudential plc – HY24 Results - Additional info
Prudential plc – HY24 Results - Additional info.
About this update from Prudential Plc
[{"type":"text","content":"\n\nI Additional financial information\nI(i) Group capital position\nPrudential applies the Insurance (Group Capital) Rules set out in the Group-wide Supervision (GWS) Framework issued by the Hong Kong IA to determine group regulatory capital requirements (both minimum and prescribed levels). For regulated insurance entities, the capital resources and required capital included in the GWS capital measure for Hong Kong IA Group regulatory purposes are based on the local solvency regime applicable in each jurisdiction. The Group holds material participating business in Hong Kong, Singapore and Malaysia. Alongside the total regulatory GWS capital basis, a shareholder GWS capital basis is also presented which excludes the contribution to the Group GWS eligible group capital resources, the Group Minimum Capital Requirements (GMCR) and the Group Prescribed Capital Requirements (GPCR) from these participating funds.\nEstimated GWS capital position note (1)\nAs at 30 June 2024, the estimated shareholder GWS capital surplus over the GPCR is $15.2 billion (31 December 2023: $16.1 billion), representing a coverage ratio of 282 per cent (31 December 2023: 295 per cent) and the estimated total GWS capital surplus over the GPCR is $18.7 billion (31 December 2023: $19.0 billion), representing a coverage ratio of 192 per cent (31 December 2023: 197 per cent). The estimated Group Tier 1 capital resources are $17.4 billion with headroom over the GMCR of $11.5 billion (31 December 2023: $18.3 billion with headroom of $12.4 billion), representing a coverage ratio of 297 per cent (31 December 2023: 313 per cent).\n\n\n\n\n \n\n\n30 Jun 2024\n\n\n \n\n\n31 Dec 2023\n\n\nChange\nin total\n\n\n\n\n \n\n\nShareholder\n\n\nAdd\npolicyholder\n\n\nTotal\n\n\n \n\n\nShareholder\n\n\nAdd\npolicyholder\n\n\nTotal\n\n\n\n\n \n\n\n \n\n\nnote (2)\n\n\nnote (3)\n\n\n \n\n\n \n\n\nnote (2)\n\n\nnote (3)\n\n\nnote (4)\n\n\n\n\nGroup capital resources ($bn)\n\n\n23.5\n\n\n15.4\n\n\n38.9\n\n\n \n\n\n24.3\n\n\n14.3\n\n\n38.6\n\n\n0.3\n\n\n\n\nof which: Tier 1 capital resources ($bn) note (5)\n\n\n16.4\n\n\n1.0\n\n\n17.4\n\n\n \n\n\n17.1\n\n\n1.2\n\n\n18.3\n\n\n(0.9)\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nGroup Minimum Capital Requirement ...