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).
The group’s EOF capital has increased by 18% between 2016 (GBP 14,070 million) an 2023 (GBP 16,546 million).
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.
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SOURCE: Solvency II Wire Data
