L&G is another of the large groups that have published their 2023 SFCR early.
The company reported a drop in its SCR ratio from 236% in 2022 to 224% in 2023.
The main drivers of the ratio change were a reduction of the insurer’s Eligible Own Funds (EOF) and a slight increas in its Solvency Capital Requirement (SCR).
![Legal and General Group drivers of SCR ratio 2016 2023](https://www.solvencyiiwire.com/wp-content/uploads/2024/04/Legal-and-General-Group-drivers-of-SCR-ratio-2016-2023-1024x672.jpg)
The group’s EOF capital has increased by 18% between 2016 (GBP 14,070 million) an 2023 (GBP 16,546 million).
![Legal and General Group eligible own funds 2016 2023_](https://www.solvencyiiwire.com/wp-content/uploads/2024/04/Legal-and-General-Group-eligible-own-funds-2016-2023_-1024x685.png)
The proportion of Tier 1 unrestricted capital remained relatively stable. Over the period the group reduced its tier 2 capital. L&G does not have any tier 3 capital.
More information about the data is available to premium subscribers of Solvency II Wire Data and subscribes to Solvency II Wire‘s exclusive SFCR Spotlight mailing list (subscribe for free here).
![Groups with largest risk margin S.02.01.02_R0550_C0100](https://www.solvencyiiwire.com/wp-content/uploads/2024/04/Top-10-Groups-Risk-Margin-2021-2022.png)
SOURCE: Solvency II Wire Data
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