M&G plc (MNG) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

half-year results. Thanks a lot to those joining in the room and those following us online. We're here with Andrea Rossi, our CEO, and Catherine McLelland, CFO. As usual, we're going to go through a short presentation, briefer than a full year, and then we'll have all the time needed for Q&A. So without further ado, thank you very much, and over to you, Andrea. So good morning, and welcome to MNG's half-year results. It is a pleasure to be here with you today. In March, we announced a new set of targets and dividend policy for the group, aligned to our long-term ambition. Today, Catherine and I will cover the operational and financial progress we have achieved since then, as we position M&G for long-term profitable growth, which is diversified across business units, products, and geographies. I'm pleased to say that we continue to drive positive momentum in both asset management and life and to deliver strong client outcomes. It's been a busy first half, so let's review the main highlights of the year so far. You notice we have three priorities for the group, financial strength, simplification and growth. and we are relentlessly focused on execution. We strengthened the balance sheet and reduced our leverage. We simplified our organizational structure and tackled costs. And now we are growing the business. In the first half of the year, we attracted 2.6 billion of net inflows in asset management. This is a strong result powered by a market-leading investment performance and the continued success of our European and Asian operations. Every day, M&G becomes a more international, resilient, and diversified business. Today, 58% of our external assets come from international clients, up from just 37% in 2019. While growing in asset management, we are also becoming more ef...