Legal & General Group’s 2025 SFCR shows a fall in eligible own funds, which has reduced the group’s solvency ratio at the 2025 year‑end.
The group reported a solvency ratio of 203% in 2025, down from 232% last year.
Overall eligible own funds have trended downward since 2021.
The decrease in own funds is decribed in the 2025 Legal & General Group SFCR as follows: “The decrease in the Group’s Own Funds is primarily from £1,927m of other operating and non-operating
variances, dividend payments of £1,247m to shareholders and £503m share buyback during the year. These were offset by the net surplus generation of £1,615m from the books of existing and new business, which includes the release of Risk Margin.”
